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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does EAC stand for?
💡 Hint: Think about what this cost represents on an annual basis.
Question 2
Easy
Define present worth.
💡 Hint: Consider how we assess future costs in present terms.
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 represent?
- Total cost of purchase only
- Average annual cost of ownership
- Annual maintenance cost only
💡 Hint: Focus on the broader cost perspective, not just purchasing.
Question 2
Present Worth helps in turning future costs into what?
- True
- False
💡 Hint: Think about financial principles of 'time value of money'.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Given a piece of equipment with a purchase cost of 5,000,000, salvage value of 600,000 at a 15% interest rate over 10 years, calculate the EAC.
💡 Hint: Ensure you understand how both salvage value and purchase price factor into long-term costs.
Question 2
An organization has two options for equipment: one with lower initial costs and higher operating costs versus one with higher initial but lower operating costs; analyze which option offers a better EAC.
💡 Hint: Consider not just purchase price, but lifetime operational expenses.
Challenge and get performance evaluation