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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define economic useful life in your own words.
💡 Hint: Think about how costs change over time.
Question 2
Easy
What is obsolescence?
💡 Hint: Consider examples of dated technology.
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 primary focus of economic useful life?
- Maximizing downtime
- Minimizing total costs
- Maximizing profit through obsolescence
💡 Hint: Consider what economic analysis typically seeks to achieve.
Question 2
True or False: Profit life continues indefinitely until the machine breaks down.
- True
- False
💡 Hint: Think about how equipment performance changes over time.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A construction company owns an excavator that has been working for 8 years, with increasing repair costs. If the descent in profitability starts at 10 years, discuss the company's options as the machine approaches its economic useful life.
💡 Hint: Consider competitive analysis and potential market offerings.
Question 2
Determine a replacement policy for a fleet of old trucks, given their maintenance costs escalating annually, compared to new models entering the market with lower costs.
💡 Hint: Make use of financial projection models.
Challenge and get performance evaluation