7 Questions
What is accounting often referred to as?
The language of business
Which of the following is not a part of the accounting process?
Designing engineering systems
What does an engineer need to do in relation to accounting when preparing economy studies?
Reconcile with the book of accounts
Which concept in engineering economy requires consideration of the time value of money?
Compound interest
What does the time value of money concept focus on?
Effects of time on the earning power of money
Which activity is NOT part of the accounting practice mentioned in relation to engineering projects?
Design selection for projects
What must an engineer be familiar with when reconciling with the book of accounts according to the text?
Assets, liabilities, expenses, and income
Test your knowledge on simple and compound interest calculations. Learn about Ordinary Simple Interest and Exact Simple Interest, as well as how to compute Compound Interest.
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