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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the definition of sunk cost?
💡 Hint: Think about costs already incurred.
Question 2
Easy
Why should we focus on current market value?
💡 Hint: Consider what affects current choices.
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 should you exclude from your replacement analysis?
- Initial purchase cost
- Current market value
- Maintenance cost
💡 Hint: Which reflects today’s situation better?
Question 2
Are sunk costs relevant in making replacement decisions?
- True
- False
💡 Hint: Consider past costs versus future values.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A construction company initially invested $200,000 in a bulldozer. After 10 years, the current market value is $50,000. They have maintained it well, but operational costs are increasing. Outline their decision process based on replacement analysis.
💡 Hint: Focus on current financial implications rather than previous investments.
Question 2
Explain a scenario where failing to recognize sunk costs might lead a manager to delay a beneficial equipment replacement.
💡 Hint: Consider emotions tied to money spent in the past.
Challenge and get performance evaluation