221 FINAL MC Questions with complete solution 2024/2025
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Course
APSC 221
Institution
APSC 221
221 FINAL MC Questions with complete solution 2024/2025 221 FINAL MC (SPEN)
When alternatives for accomplishing a specific task are being compared over one year or less (time value of money is ignored) they can be referred to as:
Engineering comparisons
Opportunity costs
Cost concepts
Prese...
221 FINAL MC (SPEN)
When alternatives for accomplishing a specific task are being compared over
one year or less (time value of money is ignored) they can be referred to as:
Engineering comparisons
Opportunity costs
Cost concepts
Present economy studies - correct answer ✔Present economy studies
The general Price-Demand relationship can be expressed as a linear function.
- correct answer ✔True
The power-sizing technique is sometime referred to as a linear model.
True
False - correct answer ✔False
The WBS is sometimes called a work element structure.
True
False - correct answer ✔True
Which technique sums the product of several quantities or components and
adds these to any components estimated directly?
Unit technique
Power-sizing technique
Factor technique
Adding technique - correct answer ✔Factor Technique
,______ are used in the preliminary or conceptual design stage of a project.
Cost and revenue estimates
Definitive estimates
Semi-detailed or budget estimates
Order of magnitude estimates - correct answer ✔Semi-detailed or budget
estimates
CERs are excellent predictors of cost if they are correctly developed from
good historical data.
True
False - correct answer ✔True
Material costs are an example of costs that are typically included in an
engineering economy study.
True
False - correct answer ✔True
__________ is the use of historical cost data and statistical techniques to
predict future costs.
Power-sizing.
Parametric cost estimating
Selected estimating.
Historical estimating. - correct answer ✔Parametric Cost Estimating
What does Cn stand for in the above equation?
Reference year for which cost is known.
Cost or price of the item in reference year.
, Year for which the cost is to be estimated.
Estimated cost of price of the item in year being analyzed. - correct answer
✔Estimated cost of price of the item in year being analyzed.
Compound interest takes the interest accumulated in one interest period and
adds it to the principle amount used to calculate interest in the next period.
True
False - correct answer ✔True
A cash flow diagram summarizes the timing and magnitude of cash flows as
they occur over time.
True
False - correct answer ✔True
The base unit of time over which an interest rate is calculated is called the
_______.
Interest duration
Time period
Interest cycle
Interest period - correct answer ✔Interest Period
Mathematical equivalence is a consequence of the mathematical relationship
between _______.
First cost and salvage value
Sunk costs and opportunity cost
Depreciation and market value
Time and money - correct answer ✔Time and Money
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