Day 3 Gen Engg Flashcards
Cost item in which common both the fixed and operating cost of an enterprise
Interest
Length in time for the cumulative net annual profit to equal the investment
Payback period
Reduction in value and marketability due to competition from newest products
Obsolescence
Summary of assets, liabilities and net worth
Balance sheet
Worth of property which is equal to the original cost less depreciation
Earning value
Type of interest that is periodically added to the amount of loan which is based on cumulative amount
Compound interest
Output or sales at which income is insufficient to equal operating cost
Investment (daw)
The price at which a given product will be supplied and purchased is the price that will result in the supply and the demand being equal
Law of demand and supply
An estimate of an asset’s net market value at the end of its estimated life
Salvage value
Lessening of the value of an asset value due to a decrease in the quantity available as a coal, oil and timber in forests
Depletion
A certificate of indebtedness of a corporation usually for a period of net loss that ten years and guaranteed by a mortgage on certain assets of the corporation or its subsidiaries
Bond
Funds supplied and used by owners of an enterprise in the expectation that profit will be earned
Equity capital
Funds supplied by others on which a fixed rate of interest must be paid and the debt be repaid at a specific place and time
Borrowed capital
Quantity of a certain commodity that is offered for a sale at a certain price at a given place and time
Supply
Quantity of a certain commodity that is bought at a certain price at a given place and time
Demand
A condition where only few individuals produce a certain product that action of one will lead to almost the same action by the other
Oligopoly
Simplest form of business organization
Sole proprietorship
An association of two or more persons for a purpose of engaging in a profitable business
Partnership
A distinct legal entity which can practically transact any business transaction which a real person could do
Corporation
Increase in the value of capital asset
Capital gain
Reduction in the money value of a capital asset
Capital loss
Difference between sales revenue and the cost of goods sold
Gross profit
A currency traded in a foreign exchange market for which the demand is consistently high in relation to its supply
Hard currency
Negotiable claim issued by a bank in lieu of a term deposit
Certificate of deposit
When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output. This law is
Law of diminishing return
It occurs when the mathematical product of price and volume of sales remains constant regardless of any change in price
Inelastic demand
It is an annuity where the payment period extends forever or in which the periodic payment continue indefinitely
Perpetuity
It is the span of life of an equipment during which it produces the product it is designed to produce a profit
Economic life
It is the study of the changes in motion of rigid bodies produced by an unbalanced force system, and of the means of determining the forces required to produce any desired change in its motion
Kinetics
A branch of mechanics which deals with the study of motion without consideration of the forces causing the motion
Kinematics
This law states that in every action there is an opposite and equal reaction
Newton’s 3rd Law
These are systems of forces whereby all forces don’t meet even if they are extended along their line of axis
Parallel forces
These are two or more forces which has the same effect as that of a single force
Component
Product of the mass of a body and its instantaneous velocity
Momentum
When the force is divided by the resisting are parallel to it
Shearing stress
It is a beam where one end is fixed or restrained and the other end is simply supported
Propped beam
Point on the beam where the shear is zero
Maximum moment reaction
Inelastic collision is a collision in which the total kinetic energy after the collision is ___ before collision
Less than
deals with analyzing stresses and deflections in materials under load
strength of materials
