📝 [MESL] QB 0519 | Advanced Mastery Exam 11 – Elements

Gross profit, sales cost of goods as a percentage of sales.

Decrease in value of a physical property due to the passage of time.

What is work in process classified as _____.

Cost of things that are either labor or materials.

Type of ownership in business where individuals exercise and enjoy the right in their own interest.

The difference between the starting and ending inventory valuations, a term that represents an inventory account adjustment.

The length of time usually in years for the cumulative net annual profit to equal the final investment.

Which of the following methods is most suited in evaluating, comparing alternatives with different lives?

Funds that are required to make the enterprise or project a going concern.

Worth of the property as shown in the accounting records of an enterprise.

Kind of obligation which has no condition attached.

The series of equal payments at equal intervals of time.

Gross profit, sales less cost of goods sold as a percentage sales is called _____.

The percent worth of all depreciation over the economic life of the item.

A provision in the contract that indicates possible adjustment of material cost and labor cost.

Money paid for the use of borrowed capital.

An index of short-term paying ability is called _____.

A legally binding agreement or promise to exchange goods or services.

Fall after the increase reaches a certain variable amount.

Form of summary of assets, liabilities and net worth.

Worth of property which is equal to the original cost less depreciation.

A situation whereby payment is made for work not done. It also applies to the case where more workers are used than were a reasonable requirement for efficient operation.

Grand total of assets and operational capability of a corporation.

When using net present worth calculation to compare two projects, which of the following could invalidate the calculations.

The difference between the starting and ending inventory valuations, a term that represents an inventory account adjustment is called _____.

Additional information to prospective bidders on contact documents issued prior to bidding date.

What is the acid test ratio?

A diagram drawn to help visualize and simplify problem having diverse receipts and disbursements.

The peso amount as earned from investment or project.

Instead of the profits being paid out to the stockholders or owners as dividends, they are retained in the business and used to finance expansion.

Worth of property as shown on the accounting records of an enterprise.

Financial statement which compares the revenues of the period with the expenses incurred to gain those revenues.

The length of time usually in years for the cumulative net annual profit to equal the initial investment.

Association of two or more individuals for the purpose of operating a business as co-owners of a profit.

If a cost is a function of the independent variable, the cost is said to be a _____.

Penal provision of a contract to compensate for the losses incurred by one party due to the failure to comply with contract provisions.

The balance sheet is a statement showing the financial status of the company at any given time. Which of the statements not a part of the balance sheet.

Cash money credit necessary to establish and operate an enterprise.

Intangible assets of a company or a corporation.

A form of business which is legal entity possessing many of the legal powers of individuals. It can hold title to property, sue and be used in its own name.

Refers to cost of merchandise which excludes freight and insurance costs.

A fund into which annual deposits of X are made in order to accumulate fund F at in years in the future.

Estimated value at the end of the useful life.

Consists of the actual counting or determination of the actual quantity of the materials on hands as of a given date.

The total income equals the total operating costs.

The total amount spent on a physical property unit the property is put into operation.

The additional cost of producing one more unit.

Cost which arise as a result of a change volume of production.

Cost which arise as a result of a change in operations or policy.

Cost which remain unaltered whether or not a given change in operations is adopted.

A change in cost for a small change in volume of production.

Amount which has been spent and for some reasons cannot be recovered.

The value which the disinterested third party, different from buyer or seller will determine in order to establish a price that is far and acceptable to both the buyer and the seller.

The method of repaying a debt, principal and interest included, usually by a series of equal payments at equal intervals of time.

The decrease in the value of a property due to the gradual extraction of its contents.

A certificate of indebtedness of a corporation usually for a period of not less than 10 years and guaranteed by a mortgage on certain assets of the corporation or its subsidiaries.

Ratio of capital invested to the net annual cash flow.

Ratio of annual net profit to the capital invested.

An interest earning fund in which equal deposits are made at equal intervals of time.

The price at which a willing buyer will pay to a willing seller for a commodity.

When one or more of the input factors of production is limited, either by absolute quantity or by increasing cost, a point will be reached that an increase in the variable input factors will result in less than proportionate increase in input.

Price of a property when sold for junk.

An organization of the workers of a particular trade or craft whose primary aim is to improve the social and economic status of its members.

A possible or chance events which when they occur, will involve a large amount of expenditures.

A study of the cost factors involved in engineering projects and using the result of such study in employing the most efficient cost saving techniques without affecting the safety and soundness of the project.

Part of theorem which is assumed to be true.

A statement the truth of which must be established by proof.

Space between two lines meeting at a point called the vertex.

A statement of equality between two ratios.

A place where sellers and buyers come together.

Amount of money or its equivalent which is given in exchange for goods or commodity.

Process of determining the value of certain properties or equipment for certain reasons.

The square on the hypotenuse of a right triangle is equal to the sum of the square on the other two sides.

A solid bounded by a surface all points of which are equidistant from a point called the center

Side opposite the right angle of a right triangle.

Two triangles are congruent if two angles and the included side of one are equal respectively to two angles and the included side of the other.

A line that meets a plane but is not perpendicular to it in relation to the plane.

The curve generated by a point rotating about its axis while travelling at constant speed parallel to its axis.

_____ of a negotiable paper is the difference between the present worth of the paper at sometime in the future.

Quantity of a certain commodity that is bought at a certain price at a given place and time.

Quantity of a certain commodity that is offered for sale at a certain price at a given place and time.

Used to produce consumers goods.

Funds supply by other on which a fixed rate of interest must be paid and the debt be repaid at a specific time.

The process of determining the value of certain property for specific reasons.

The analysis and evaluation of the factors that will affect the economics success of engineering projects to the end that a recommendation can be made which will insure the best use of capital.

The length of time during which it is capable of performing the function for which it was designed.

Caused by either lessening in the demand for the service rendered by the asset or it is availability of more efficient asset which will operate with lower out-of pocket cost.

It occurs when a unique product or service is available only from a single supplier and entry of all other possible.

The logarithm of a negative number.

What is the angle of pi and less than 2 pi.

Points that lie in the same plane

The study of the properties of figures of three dimensions.

The angle between the horizontal plane and the line of sight between the observers eye to the object which is lower than the line of sight of his eyes.

A sequence of numbers where the two successive terms have a constant common difference

An algebraic expression having two variables in it, Example: 3x + 3y is called _____.

A statement the truth of which follows with little or no proof from a theorem.

The temperature at which the vapor pressure of the liquid is equal to the pressure exerted on the liquid.

The weight of an object in air is equal to the weight of the displaced liquid on which the object is placed.

Transmission of heat from a hot to a cold body due to motion of matter.

The heat transfer from molecule through a body or through bodies in contact.

The ratio of the limiting frictional force to the normal force is known as _____.

The locus of points which are equidistant from a fixed point called focus and a fixed line called the directrix.

It is an arrangement of objects in a definite order.

The theoretical or expected frequency when the laws of chance are operating.

A polyhedron which has 20 faces is known as _____.

A solid figure having a constant cross section in plane perpendicular to its axis.

Cost that are difficult to attribute or allocate to a specific output or with activity.

Cost that are repetitive and occur when an organization produces similar goods or service on a continuing basis.

For economic decision-making process in the private sector, economic calculations are made to maximize net benefits to:

The annual depreciation charge equals capital recovery with return for an interest rate of _____.

Depreciation resulting not from deterioration in the assets ability to serve its intended purpose but from a change in the demand for the services it can rendered _____.

The uniform annual end of year payment to repay a debt in years, with an interest rate I, is determined by multiplying the capital recovery factor by the:

An annuity whereby payment is postponed for a certain period of time.

A bond whereby the security behind it in the equipment of the issuing corporation.

In statistics, the standard deviation means _____.

If the second derivative of the equation of a curve is equal to the negative of the equation of that same curve, the curve is _____.

Varignon’s theorem is used to determine _____.

The center of gravity of an isosceles triangle whose height is H on the median line is _____.

A vector that represents the sum of two vectors.

Study of motion without reference to the forces which causes motion

Property of a body which measure its resistance to change in motion.

Motion of a rigid body in which a straight line passing through any two of its practices always remains constant.

The first derivative of kinetic energy with respect to time.

Product of force and time during which it acts on the body.

Continuous emission of energy from the surface of all bodies.

The velocity which an objects needs to overcome the gravitational force of a planet.

A chemical process which occur when water is added to cement.

The angle formed between one line and the prolongation of the preceding line in a closed traversed.

A temperature above which a given gas cannot be liquefied.

An encased rotating element provided with vanes which draw in fluid at the center and except if at a high velocity at the outer edge.

A pump used to transfer fuel.