CHAPTER ONE
INTRODUCTION
1.1 EVOLUTION OF INVESTMENT APPRAISAL
Different school of thoughts on the reasons for the existence of a business organization. While some believe that profit in the sole reason for existence, other believe that a business exist in order to survive the vagaries facing the business and its owners. With proper evaluation of this school of thought, one would be persuaded to believe that the perceptions of this various schools of thought about the reasons for the existence of a business entity an be likened to the stony of the five blind men who were ask to inspect an elephant with each giving an account of the elephant with the perception of the area he could feel with his hands.