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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does the term ownership cost include?
💡 Hint: Remember the acronym IDEITS.
Question 2
Easy
Define initial cost.
💡 Hint: Think about all costs before using the equipment.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is a key component of ownership costs?
- Initial Costs
- Variable Costs
- Labor Costs
💡 Hint: Which cost remains irrespective of operation?
Question 2
True or False: Depreciation only affects the cash flow of the business.
- True
- False
💡 Hint: Consider how depreciation is recorded.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A construction company purchases a crane for $250,000 with a salvage value of $50,000 and a useful life of 15 years. Calculate the annual depreciation using each method discussed.
💡 Hint: Remember to account for the salvage value in Straight Line and don't in Double Declining.
Question 2
Discuss potential consequences if a contractor fails to estimate ownership costs accurately when bidding for a project.
💡 Hint: Reflect on project sustainability and financial viability.
Challenge and get performance evaluation