Chao Exam 1 Flashcards
(92 cards)
1
Q
Payments that differ in amount may be equal if made at different points in time is known as ____________.
A
Equivalence
2
Q
The Time Value of money is based on the premise that money can generate _______ over a period of time.
A
Interest
3
Q
Comparing a future cost of one alternative with the present worth cost of a second alternative is valid and meaningful.
A
False
4
Q
The reason why the value of money increases with time is because of the interest rate.
A
True
5
Q
Book Value is the _________ less the depreciable value.
A
Initial Cost
6
Q
The _________________ of depreciation claims a constant amount on taxes each year.
A
Straight Line Method
7
Q
__________ is an artificial expense of an estimated loss that can offset income taxes over a period of years.
A
Depreciation
8
Q
Equipment depreciation is a/an ___________.
A
Ownership Cost
9
Q
Equipment maintenance and repair is a/an ___________.
A
Operating Cost
10
Q
Equipment service is a/an ___________.
A
Operating Cost
11
Q
Equipment storage is a/an ___________.
A
Ownership cost
12
Q
Fuel to run the equipment is a/an ___________.
A
Operating Cost
13
Q
Interest paid to finance the cost of the equipment is a/an ___________.
A
Ownership Cost
14
Q
Operating costs tend to ________ over time
A
Increase
15
Q
Ownership costs tend to ________ over time
A
Decrease
16
Q
Replacing equipment tires are a/an ___________.
A
Operating Cost
17
Q
Taxes paid on the purchase of a piece of equipment are a/an ___________.
A
Ownership Cost
18
Q
The equipment operator is a/an ___________.
A
Operating Cost
19
Q
O&O costs are usually expressed in dollars per equipment operating hour.
A
True
20
Q
TIres for wheel-type equipment are a major operating cost, because they have a short life in relation to the iron of a machine.
A
True
21
Q
Tire cost will include both repair and replacement charges, and the tire life is a function of both project application and equipment/project management.
A
true
22
Q
Sound consists of pressure changes in a medium (usually air) caused by ___ or ___.
A
Vibration, turbulence
23
Q
What is noise?
A
Unwanted sound
24
Q
Between which frequencies is human hearing most sensitive to?
A
3,000 and 4,000Hz
25
What are the two factor that determine the amount of hearing loss a person experiences when exposed to loud noises?
Intensity and duration
26
Sometime, overexposure to loud noise can trigger ringing or other sounds in your ears, called ___.
Tinnitus
27
The first step towards solving any noise problem is to ___ it.
Define
28
ANSI Type 2 meters have an accuracy of ___.
±2 dBA
29
According to OSHA's noise standard 29 CFR 1910.95, the ___ is the primary instrument for making compliance measurement.
Noise dosimeter
30
Can overexposure to noise in the workplace occur where employees wear a communications headset?
True
31
When may noise be a problem in your workplace?
a. You hear ringing or humming in your ears when you leave work.
b. You have to shout to be heard by a coworker an arm's length away.
c. You experience temporary hearing loss when leaving work
32
Typical engineering controls involve all of the following except ___.
b. Redesign of the equipment Correct
33
In situations where employees will be working on or around equipment fitted with engineering controls, it is important to explain to everyone involved why the controls should not be modified, removed, or otherwise defeated?
true
34
What are administrative controls?
Changes in the workplace that reduce or eliminate the worker exposure to noise.
35
Which of the choices below are examples of Administrative controls?
a. Provide quiet areas for workers
| b. Restrict workers to a suitable distance away from noise
36
___ and ___ controls represent the first two primary strategies in the Hierarchy of Controls.
Engineering and administrative
37
What is considered the last option to control exposure to noise?
Hearing protection devices (HPDs)
38
What are management's two roles in ensuring that hearing protection devices protect hearing effectively?
Facilitation and enforcement
39
Employees must make HPDs available to all employees exposed at or above the action level. These must be provided ___.
a. At no cost to employees
| b. Must be replaced as necessary
40
Employees must be given the opportunity to select their HPDs from a suitable variety. Generally, this should include a minimum of ___ devices, representative of at least two different types.
Two
41
What is the "action level" at which the employer must institute a training program for all employees with noise exposures and ensure their participation?
85 dBA
42
For complex jobs and those requiring concentration, studies show that greater efficiency is linked to ___.
Lower noise levels
43
The ___ of employees is likely to be maintained when employees retain good hearing.
a. Versatility
b. Adaptability
c. Promotability
44
Who is more at risk of developing hearing loss?
A worker exposed to noise the first 5-10 years
45
Studies of noisy companies that have implemented hearing conservation programs show reductions in ___.
a. Accident rates
b. Illnesses
c. Lost time
46
Many individuals are unaware of their hearing impairment until it is too late.
True
47
Employers must monitor all employees whose noise expose is equivalent to or greater than a noise expose received in 8 hours where the noise level is constantly ___dB.
85
48
Employers must provide ___ audiograms within 6 months of an employee's first exposure at or above an 8-hour TWA of 85 dB.
Baseline
49
Employers must provide annual audiograms within ___ year(s) of the baseline.
One
50
For maximum protection of the employees (and for that matter, the company), audiograms should be performed on which of the following occasions?
a. Pre-employment. Prior to initial assignment in a hearing hazardous work area
b. Annually, as long as the employee is assigned to a noisy job (a time-weighted average)
c. At the time of reassignment out of a hearing hazardous job, and at the termination of employment
51
Which question does the audit ask to help determine if the supervisor is committed to the hearing conservation program?
c. Do supervisors wear hearing protectors in appropriate areas? Correct
52
Which question does the audit ask to help determine deficiencies in a hearing conservation program?
a. Was the success of each training program evaluated? Correct
53
Select the general elements critical to a successful safety and health management system.
a. Management leadership and employee involvement
b. Worksite analysis
c. Hazard prevention and control, and Safety and health training
54
In relation to a hearing conservation program what kind of culture should a corporate environment promote?
b. A safety culture Correct
55
Training sessions should be mandatory not only for noise-exposed employees, but also for the supervisors and managers responsible for noisy production areas.
True
56
How often should hearing loss prevention presentations be updated and presented to employees?
d. At least annually Correct
57
What is the best way a program implementer can convey health promoting behaviors?
c. Focus on the real-life losses employees might expect if they don't act to protect their hearing Correct
58
Which of the choices below is NOT an industrial chemical that can cause hearing loss
Heat
59
It is important that those involved in hearing loss prevention take into account exposure to chemicals while ___.
a. Monitoring for hazards and assessing hearing
| b. Assessing hearing and controlling exposures
60
T-BEAM surveys are focused on ___ instead of shifts or areas.
Tasks
61
Person-centered models have been known to contribute to safe work behavior.
False
62
The safety climate model can be broadly defined as the general level of ___ and commitment among management and workers in the organization.
Safety awareness
63
what is the largest single equipment cost?
repair 37%
64
Purchase price-salvage+overhead=
ownership expense
65
Regardless of how much a machine is used, the owner must pay owning cost. true or false
true
66
bulldozer new= 260,00
4 yr later= 120,000
ownership expense=?
140,000
67
```
Machine owning cost includes which of the expenses
listed?
$ Repairs
$ Insurance
$ Fuel
$ Taxes
```
insurance, taxes
68
operating cost includes what
- consumables(fuel, oil, grease)
- repair
- Maintenance
- tires or tracks
- high wear items
69
```
Machine operating cost includes which of the expenses listed?
$ Repairs
$ Interest
$ Tires
$ Taxes
```
repairs, tires
70
A series of payments or receipts that occurs at the end of each period for n periods (not at the beginning of each period).
a uniform series of payments
71
A decrease in value
○ Market value
○ Value to the owner
○ To offset income for tax purpose
Depreciation
72
the value at the time of disposal or retirement
Salvage value
73
initial cost less the depreciation to the equipment
Book value
74
```
subtracted from business revenues as they occur.
■ Labor
■ Utilities
■ Materials
■ Insurance, etc.
```
Expenses
75
subtracted from business expenses over time as the asset is used up until the book value equals the salvage value. No further depreciation is allowed.
Depreciation
76
the period over which an asset is depreciated (=recovery period).
Depreciation period
77
purchase price less salvage value
Depreciable value
78
Depreciation is used to allocate an asset's ____ of value over time.
loss
79
Depreciation is deducted from revenue and _______ the taxable income of a business over time.
reduces
80
Depreciation is a cash flow on an _____ ___ _____.
after tax basis
81
a property is deductible if it meets what three criteria
1. The property is used for business purposes in the production of income.
2. The property has a useful life that can be determined, and the useful life is longer than one year.
3. The property decays, gets used up, wears out, becomes obsolete or loses value from natural causes.
82
Simplest and best known depreciation method:
○ Annual depreciation amount = R(PPSV)
■ PP= dollar amount being depreciated (purchase price + any other costs to make the asset "ready for use")
■ SV= salvage value
■ R= 1/N (R is the annual depreciation rate, N is depreciation period)
Straight -Line Depreciation
83
This method results in larger than straightline depreciation charges during an asset's early years and smaller charges as the asset nears the end of its depreciable life.
SumoftheYears (SOY) depreciation
■ Constant depreciation rate (either 150% or 200% of SL rate)
■ Double declining balance (DDB)200% of SL rate
○ Dm=2/N*(BVm1)
Declining Balance Depreciation
84
is the system presently used by the US government.
■ The first and last years of the recovery period are each assumed to be half year.
■ Depreciation percentages continue for one year beyond the property class life (see. Table 113)
MACRS
85
advantages of marcs
○ Property class lives are less than the
actual useful lives
○ Salvage values are assumed to be Zero for all assets
○ Tables of annual percentages simplify computations
86
"An estimate of how long an item of property can be expected to be usable in trade or business or to produce income."
Useful Life
87
A number of years that establishes the property class and recovery period for most types of property under the General Depreciation System (GDS) and Alternative Depreciation System (ADS).
Class Life
88
The number of years over which the basis of an item of property is recovered.
Recovery Period
89
The ____ ______ drops fastest and furthest with MACRS, thus the present worth (NPW) is the largest for the MACRS depreciation deductions.
book value
90
_________ deductions benefits a firm after taxes because they reduce taxable income and taxes.
depreciation
91
The ___ ___ __ _____ ensures that it is better to take these deductions as soon as possible.
time value of money
92
In general, _____, which allocates largest deductions earlier in the depreciation life, provides more economic benefits than historical methods.
MACRS
