Since which year have building permits been on the rise?

Enhance your understanding of audits for the construction and real estate industry with our comprehensive test. Equip yourself with flashcards and multiple-choice questions, each with explanations and hints, to excel in your audit exam!

Multiple Choice

Since which year have building permits been on the rise?

Explanation:
Recognize trends in a time-series and pinpoint where an upward movement begins. To answer when building permits have been on the rise, look for the first year in the sequence where the permit count increases compared with the previous year and then keeps increasing in the following years. In the data shown, that turning point happens in the second year of the sequence, after which permits rise each year. That year marks the start of the rising trend, which is why it’s the best choice. Earlier years don’t show a rise, and later years just reflect the continuation after the rise started.

Recognize trends in a time-series and pinpoint where an upward movement begins. To answer when building permits have been on the rise, look for the first year in the sequence where the permit count increases compared with the previous year and then keeps increasing in the following years. In the data shown, that turning point happens in the second year of the sequence, after which permits rise each year. That year marks the start of the rising trend, which is why it’s the best choice. Earlier years don’t show a rise, and later years just reflect the continuation after the rise started.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy