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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is economic life?
💡 Hint: Think about when holding costs are minimized.
Question 2
Easy
Define depreciation.
💡 Hint: It's a way to measure an asset's declining worth.
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 the economic life of machinery?
- Short period of highest efficiency
- The longest time a machine can operate
- Cost-effective operational period
💡 Hint: Focus on cost-effectiveness.
Question 2
True or False: Downtime costs decrease as the machine's age increases.
- True
- False
💡 Hint: Think about how older machines perform.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company has machinery that was purchased for 50,00,000 with a useful life of 10 years. Calculate the depreciation for Year 1 and Year 2 using the double declining balance method.
💡 Hint: Apply the formula to find the book value each year.
Question 2
Calculate the cumulative maintenance costs if yearly repair costs are estimated to start at 1,00,000 and increase by 5% annually. Determine the cumulative cost after five years.
💡 Hint: Add each year's increasing repair cost to find the total.
Challenge and get performance evaluation