Practice Taxes - 4.4 | 5. Construction Methods and Equipment Management | Construction Engineering & Management - Vol 1
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4.4 - Taxes

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the difference between ownership costs and operating costs?

💡 Hint: Think about costs that occur whether you are using equipment or not.

Question 2

Easy

What expenses might be considered as initial costs?

💡 Hint: Consider everything required to make the equipment ready for use.

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 included in ownership costs?

  • Only the purchase price
  • Initial costs
  • depreciation
  • insurance
  • Only operational costs

💡 Hint: Think about the ongoing costs incurred without active use of the equipment.

Question 2

True or False: Operating costs are incurred only when the equipment is used.

  • True
  • False

💡 Hint: Recall what is considered a cost due to usage.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

An equipment costs $150,000, has a salvage value of $15,000, and a useful life of 5 years. Calculate annual depreciation using the straight-line method and explain how this amounts contribute to ownership costs.

💡 Hint: Break down the formula and plug in the values carefully.

Question 2

If a contractor purchases a piece of equipment at $120,000, later expects it to sell for $20,000 and estimates a useful life of 8 years, what would be the annual depreciation using the double declining balance method for the first year?

💡 Hint: Remember to consider that the double declining method applies to the entire initial cost, not the salvage value.

Challenge and get performance evaluation