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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 the phrase 'minimum cost of holding'.
Question 2
Easy
What is one reason machines become obsolete?
💡 Hint: Consider what happens when new machines are introduced.
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 time period over which costs are minimized
- The time period over which repairs are maximum
- The time period before machine failure
💡 Hint: Think 'minimized costs' when referring to economic life.
Question 2
True or False: Obsolescence affects a machine's salvage value.
- True
- False
💡 Hint: Obsolescence and value are interconnected.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Calculate the total replacement cost after four years for a machine starting at 35,00,000 with 2,10,000 annual increases. Also, factor in a depreciation of 1,00,000 per year after its third year.
💡 Hint: Sum all increases and account for depreciation appropriately.
Question 2
If a machine has a downtime cost of 500 per hour and it is down for 30 hours due to repairs, calculate the total downtime loss.
💡 Hint: Multiply the hourly cost by the total hour lost.
Challenge and get performance evaluation