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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define economic life in your own words.
💡 Hint: Think about how costs and machine performance relate.
Question 2
Easy
What is depreciation?
💡 Hint: Consider how machines lose value over time.
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 economic life?
- The period of maximum cost
- The period during which costs are minimized
- The period of machine breakdown
💡 Hint: Think about how costs change over time.
Question 2
True or False: Depreciation reflects a loss in an asset's value over time.
- True
- False
💡 Hint: Consider how assets are valued over time.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If a machine is purchased for ₹10,00,000, with a salvage value of ₹1,00,000 and a useful life of 10 years, calculate the yearly depreciation using the straight-line method and assess potential impacts of inflation.
💡 Hint: Think about how inflation compounds over time.
Question 2
Explain how a change in technology could influence the obsolescence of machinery and your decision to replace it.
💡 Hint: Consider the market competitiveness and technological advancements.
Challenge and get performance evaluation