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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define the term 'sunk cost'.
💡 Hint: Think about costs that you can't get back once spent.
Question 2
Easy
What does EAC stand for?
💡 Hint: It's something annual that helps analyze costs.
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 EAC stand for?
- Annual Equipment Cost
- Equivalent Annual Cost
- Equipment Analysis Cost
💡 Hint: Think of what EAC influences in decision-making.
Question 2
Sunk costs are relevant in replacement analysis.
- True
- False
💡 Hint: Recall what defines sunk costs.
Solve 3 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A construction firm plans to replace machinery valued annually at a decline rate of 25%. Assess its economic life modeled until it costs more to run it than to replace it. Develop a cost-benefit chart using EAC.
💡 Hint: Analyze costs thoroughly to spot replacement points effectively.
Question 2
Given two competing machines, one incurs higher operating costs but has a lower initial investment, while the other has a higher initial cost but lower operational costs. Use EAC to recommend the optimal replacement choice considering a 10-year life span.
💡 Hint: Display findings clearly using comparative visuals.
Challenge and get performance evaluation