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CCE-CCC – Certified Cost Consultant / Cost Engineer (AACE International)

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Showing 7–9 of 10 questions

Question 7

A major theme park is expanding the existing facility over a five-year period. The design phase will be completed one year after the contract is awarded. Major engineering drawings will be finalized two years after the design contract is awarded and construction will begin three years after the award of the design contract. New, unique ride technology will be used and an estimate will need to be developed to identify these costs that have no historical data.

The recognition of loss of value of a natural resource used in the production process is referred to as:

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    Capital reduction
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    Net loss
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    Depreciation
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    Depletion
Question 8

The four steps to writing are:

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    Introduction, paragraph, conclusion, works cited
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    Start, write, complete, revise
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    Abstract, body conclusion, bibliography
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    Plan, write, cool, revise
Question 9

An agricultural corporation that paid 53% in income tax wanted to build a grain elevator designed to last twenty-five (25) years at a cost of $80,000 with no salvage value. Annual income generated would be $22,500 and annual expenditures were to be $12,000.

Answer the question using a straight line depreciation and a 10% interest rate.

The main financial objective of many enterprises is:

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    To maximize the total long-term economic return
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    Subject to a well-conceived quality control plan
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    To balance opportunities and risks
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    Dependent on the backlog projects and the availability of resources