Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
35 Cards in this Set
- Front
- Back
|
Collection of techniques that simplify comparisons of alternatives on an economic basis involving engineering and technical projects |
Engineering economy |
|
|
One seller with many buyers |
Monopoly |
|
|
Many sellers with one |
Monopsony |
|
|
One seller and one buyer |
Bilateral monopoly |
|
|
Two sellers with many buyers |
Duopoly |
|
|
Many sellers with two buyers |
Duopsony |
|
|
Few sellers with many buyers |
Oligopoly |
|
|
Many sellers with few buyers |
Oligopsony |
|
|
Few sellers and few buyers |
Bilateral oligopoly |
|
|
Many sellers with many buyers |
Perfect competition |
|
|
Amount of money paid for the use of borrowed capital |
Interest |
|
|
Based on the amount of the principal plus the previous accumulated interest . Hence , the interest grows exponentially over the span of time |
Compound interest |
|
|
It refers to the difference between the future worth of negotiable paper and its present worth |
Discount |
|
|
This is the series of uniform payments made at an equal intervals of time |
Annuity |
|
|
The payment is made at the end of each period starting from the first period |
Ordinary annuity |
|
|
The first payment begins until some later date |
Deferred annuity |
|
|
The payment is made at the beginning of each period starting from the first period |
Annuity due |
|
|
The payment period extends indefinitely |
Perpetuity |
|
|
The time period over which an asset is productive . Beyond its useful life the asset is no longer cost-effective |
Useful life |
|
|
The estimated value of an asset at the end of its useful life |
Salvage value |
|
|
Includes taxes , shipping , and preparation/ setup expenses |
First cost |
|
|
The simplest method of all it involves simple allocation of an even rate of depreciation every year over its useful life |
Straight line method |
|
|
A depreciation method that provides funds for the replacement of an asset at the end of its useful life |
Sinking fund method |
|
|
Also known as diminishing balance method or constant percentage method , is an accelerated depreciation method that records larger depreciation expenses during the earlier of an assets useful life and smaller ones in the later years |
Declining balance method |
|
|
An accelerated depreciation technique which is based on the assumption that assets are generally more productive when they are new and their productivity decreases as they become old |
Sum of years digits method |
|
|
Gross profit sales cost of gold as a percentage of sales |
Net income |
|
|
Salvage value |
Scrap value |
|
|
Reduction in the level of national income and output usually accompanied by the fall in the general price level |
Deflation |
|
|
Index of short term paying ability |
Acid test ratio |
|
|
Work in process |
Liability |
|
|
Principal minus depreciation |
Book value |
|
|
The liquid assets |
Current assets |
|
|
There should be no salvage value of zero |
Declining balance method |
|
|
Lessening a value of asset to decrease in the quantity available preferring to the natural resources |
Depletion |
|
|
An asset of difference between its cost and the accumulated depreciation |
book value |
