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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the economic life of a machine?
💡 Hint: Think about the optimal time to replace machinery.
Question 2
Easy
Define depreciation.
💡 Hint: Consider how wear and tear affects machinery.
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 does economic life refer to?
- Period where costs are highest
- Period where costs are lowest
- Time until machine failure
💡 Hint: Consider when a machine is most cost-effective.
Question 2
True or False: Depreciation increases the book value of an asset over time.
- True
- False
💡 Hint: Think about how assets lose value.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A machine has a purchase price of 50,00,000 and follows the double declining balance method with an 8-year lifespan. Calculate the depreciation for the first three years.
💡 Hint: Follow the steps for each year and keep track of the book value.
Question 2
Calculate the cumulative costs of maintenance for a machine where initial maintenance is 2,00,000 growing by 10% each year. Calculate for 5 years.
💡 Hint: Apply the growth factor diligently, and keep adding to find cumulative costs.
Challenge and get performance evaluation