National Review Center & Services

NATIONAL REVIEW CENTER & SERVICES
Room 303, 3rd Floor A.F. Lopez Bldg.

(Fronting YMCA) Iznart St., Iloilo City
( (033) 337-1024
Subject: ENGINEERING ECONOMICS – ELEMENTS

Reviewer: Engr. Hernani G. Samson SET 1
1. A series of equal payments occurring at equal periods of time.

a. annual cost b. sinking fund c. cash flow d. annuity Ans. d
2. The ratio of annual sales to the average of assets used in producing these
sales.
a. Inventory turnover c. quick ratio
b. Operating – expense ratio d. Asset turnover Ans. d
3. Quick ratio is defined as the ratio of quick assets to the current liabilities,
sometimes this is called:
a. debt ratio c. acid test ratio
b. current ratio d. equity ratio Ans. c
4. It is defined to be any method of repaying a debt, the principal and interest
included, usually by a series of equal payments at periodic intervals of time.
a. amortization b. deferred annuityc. preferred annuity d. annuity Ans. a
5. Grand total of assets operational capability of a corporation.
a. authorized capital c. earning value
b. investment d. money market Ans. a
6. The process of recording all the transactions of the company, which affect any
investment of capital, so that at any time the results of the investment may be
known.
a. profit and loss statement c. accounting
b. balancing accounts d. Bookkeeping Ans. c
7. Anything of value possessed by an enterprise, which consists of properties and
the right to the property, tangible or intangible, which maybe used for the
payment of debts.
a. equities b. prepaid expense c. annuities d. assets Ans. d
8. The index indicates effectiveness of collections:
a. assets turnover c. equity ratio
b. accounts receivable turnover d. current ratio Ans. b
9. Form of summary of assets, liabilities and net worth:
a. balance sheet b. balance method c. break eve point d. production Ans. a
10.The worth of a property, which is equal to the original cost less depreciation.
a. Book value b. Earning value c. Scrap value d. Face value Ans. a
11.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.
a. stocks b. collateral c. promissory notes d. bonds Ans. d
12.The systematic recording of all business transactions in financial terms.
a. accounting b. bookkeeping c. branding d. blacking Ans. b
13.The index, which indicates the recorded value of net assets for each share of
common stock.
a. book value per share of common stock
b. return on common stockholder’s equity
c. earnings per share on common stock
d. dividend on common stock Ans. a
14.The ratio of the present value of all net benefits apart from the initial
capital costs, to those capital costs measured in money terms is known as:
a. quick ratio c. current ratio
b. benefit cost ratio d. debt ratio Ans. b
“The harvest truly is plentiful, but the laborers are few. Therefore pray the LORD
of the harvest to send out laborers into His harvest.”
Matthew 9:37 – 38
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1. The ratio of the present value of all net benefits apart from the initial
capital costs, to those capital costs measured in money terms is known as:
a. benefit cost ratio c. debt ratio
b. current ratio d. quick ratio Ans. a
2. Liquid assets such as cash and other assets that can be converted quickly into
cash, such as accounts receivable and merchandise are called.
a. total assets c. current assets
b. land and building d. fixed assets Ans. c
3. The ratio of current asset to the current liabilities is called:
a. current ratio b. quick ratio c. equity ratio d. debt ratio Ans. a
4. A diagram drawn to help visualize and simplify problem having diverse receipts
and disbursements:
a. cash-flow b. budget c. sales d. investment Ans. a
5. A type of bond to which are attached coupons indicating the interest due and the
date when such interest is to be paid.
a. joint bond b. debenture bond c. mortgage bond d. coupon bond Ans. d
6. The interest that is earned by the principal is not paid at the end of each
interest period but is considered as added to the principal and therefore will
also earned interest for the succeeding periods.
a. simple interest c. exact simple interest
b. compound interest d. ordinary simple interest Ans. b
7. A type of bond where the corporation pledges securities which it owns, such as
the stocks or bonds of one of its subsidiaries.
a. collateral trust bonds c. mortgage bonds
b. debenture bonds d. joint bonds Ans. a
8. The sum of the first cost and the present worth of all costs for replacement,
operation, and maintenance for a long time or forever is known as:
a. Perpetuity c. Depletion cost
b. Capitalized cost d. Uniform cost Ans. b
9. A distinct legal entity, separate from the individuals who own it, and which can
engage in practically any business transactions, which a real person could do.
a. partnership b. sole proprietor c. multi nationals d. corporation Ans. d
10.It represents the ownership of stockholders who have a residual claim on the
assets of the corporation after all other claims have been settled.
a. preferred stock b. capital stock c. common stock d. bond Ans. c
11.A legally binding agreement or promise to exchange goods or services.
a. barter b. contract c. memorandum d. proforma Ans. b
12.Liabilities, which mature within a short time, usually a year.
a. equity c. current liabilities
b. fixed liabilities d. annuity Ans. c
13.The entry in the book of account where the ownership is greater than the
difference between assets and liabilities.
a. credit entry c. liability entry
b. debit entry d. assets entry Ans. a
“Whatever things are lovely, whatever things are of good report, if there is any of
virtue and if there is anything praiseworthy – meditate on these things.”
Philippians 4:8
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1. The process of determining the actual cost of manufacturing a product or of

rendering a service.
a. journal posting c. cost accounting
b. ledger posting d. general accounting Ans. c
2. When two sellers controls sufficient of the supply of a commodity or service to
control its price is known as:
a. duopoly b. monopoly c. oligopoly d. octrol Ans. a
3. The quantity of a certain commodity that is bought at a certain price at a given
place and time is called:
a. supply b. stock c. marginal unit d. demand Ans. d
4. The ratio of total liabilities to total assets:
a. quick ratio c. price – earning ratio
b. debt ratio d. equity ratio Ans. b
5. A type of bond, without any security behind them except a promise to pay by the
issuing corporation.
a. collateral trust bond c. debenture bonds
b. mortgage bond d. joint bond Ans. c
6. A situation whereby payment is made for work not done. The term also applies to
the case where more workers are used than are a reasonable requirement for
efficient operation.
a. moon lighting c. downtime pay
b. feather bidding d. check – in pay Ans. c
7. The difference between what a negotiable paper is worth in the future and its
present worth is known as:
a. salvage value b. discount c. book value d. sunk value Ans. b
8. The sum of all the costs incurred by the originators of the project up to that
the project is accepted by the promoters of the project.
a. marginal cost c. construction cost
b. development cost d. promotion cost Ans. b
9. The index that gives the rate earned per share based on current price per share.
a. Dividend yield c. Operating expense ratio
b. price – earnings ratio d. Equity ratio Ans. a
10.The ratio between the maximum power demand and the sum of the connected loads of
the system:
a. load factor c. diversity factor
b. demand factor d. power factor Ans. b
11.An entry in the books of account which tends to make different between assets
and liabilities greater than ownership.
a. credit entry c. debit entry
b. assets entry d. liability entry Ans. c
12.Ratio of total stockholders equity to the total assets:
a. assets turnover b. current ratio c. equity ratio d. quick ratio Ans. c
13.The length of time during which the property may be operated at a profit.
a. economic life b. physical life c. length of time d. life Ans. a
14.Cost of things that are neither labor or material:
a. expenses b. labor cost c. construction cost d. investment Ans. a
“And whatever you do, whether in word or in deed, do it all in the name of the Lord
Jesus, giving thanks to God the Father through him.”
Colossians 3:17
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1. When using net present worth calculations to compare two projects, which of the
following could invalidate the calculations?
a. mutually exclusive projects
b. evaluation over different time periods
c. difference in the magnitude of the projects
d. non conventional cash flows Ans. b
2. These bonds refer primarily to bonds whose guarantee is a linen on railroad
equipment, such as freight and passenger cars, locomotives, and other railroad
equipment.
a. mortgage bonds c. debenture bonds
b. joint bonds d. equipment obligations bonds Ans. d
3. The ratio of the income in pesos to the cost in pesos is sometimes known as:
a. physical efficiency c. current ratio
b. economic efficiency d. acid – test ratio Ans. b
4. Type of interest which is based on the exact number of days, 365 days for
ordinary year and 366 days for a leap year.
a. exact simple interest c. compounded interest
b. ordinary simple interest d. discounted interest Ans. a
5. The actual rate of interest on the principal for one year.
a. exact simple interest c. effective rate of interest
b. nominal interest d. ordinary simple interest Ans. c
6. Funds for financing an engineering or business enterprise which is owned by the
investors in the enterprise and they expect to earn profit from their
investment, however, there is no obligation to pay them when there is no profit.
a. working capital c. debt capital
b. equity capital d. circulating capital Ans. b
7. The claims of anyone against the assets of an enterprise.
a. equities b. liabilities c. assets d. equity Ans. a
8. The index, which gives the amount of earnings of one share of common stock.
a. book value per share on common stock
b. times preferred dividends earned
c. earnings per share on common stock
d. evaluation over different time periods Ans. c
9. Assets, which include those properties that will not be converted into cash or
transformed into saleable form such buildings, land, machinery, equipment,
furniture and fixture which are used in the production of goods.
a. total assets c. intangible assets
b. current assets d. fixed assets Ans. d
10.Liabilities, which are not due for payment until sometime in the future, usually
a period not exceeding one year.
a. current liabilities c. total liabilities
b. fixed liabilities d. prepaid income Ans. b
11.The value which a disinterested party, different from the buyer or seller, will
determine in order to establish a price that is acceptable to both the buyer and
the seller.
a. Fair value c. Utility value
b. Market value d. good will value Ans. a
12.It is an intangible item of value arising from the exclusive right of a company
to provide a specific product or service in a stated place.
a. Rate – base value c. Market value
b. Franchise value d. Fair value Ans. b
“He who guards his mouth preserves his life,

but he who opens wide his lips shall have destruction.”
Proverbs 13:3
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1. A type of cost which includes all the initial expenses for starting any
enterprise which includes permit fees, legal fees, construction cost and other
initial expenses:
a. marginal cost b. increment cost c. first cost d. fixed cost Ans. c
2. A type of cost which remain relatively constant regardless of any change in
operations or policy is made. This consists of items such as rentals,
maintenance, depreciation, taxes, insurance.
a. first cost b. marginal cost c. increment cost d. fixed cost Ans. d
3. Method of pricing issued materials where the materials issued at any time are
taken from the oldest stock and should be priced at the cost when they were
purchased.
a. Last in, first out method (LIFO) c. First in, first out method (FIFO)
b. Last in, last out method (LILO) d. First in, last out method (FILO) Ans. c
4. One method of pricing materials where materials last obtained are the first to
be issued such as sand and gravel industry where stockpiles of gravel and sand
are stored in piles. As sand or gravel is bought the quantity needed is taken
from the top or sides of the piles, so the materials issued are always that were
received latest:
a. Last in–first out method (LIFO) c. First in–first out method (FIFO)
b. Last in–last out method (LILO) d. First in–last out method (FILO) Ans. a
5. An intangible value, which are actually operating concern has due to its
operation. It is the difference between the values of the property, as it stands
ready for operation and its value as it would stand at completion of
construction as an inert assembly of physical parts.
a. going concern value c. fair value
b. good will value d. salvage value Ans. a
6. The element of value, which a business has earned through the favorable
consideration and patronage of its customers arising from its well-known and
well-conducted policies and operation.
a. going concern value c. fair value
b. good will value d. market value Ans. b
7. The amount of money paid for the use of borrowed capital.
a. depletion b. discount c. overhead cost d. interest Ans. d
8. The amount needed at the beginning of operations and permits the enterprise to
begin functioning before it receives any income from sales of its product or
service.
a. regular working capital c. equity
b. initial working capital d. annuity Ans. b
9. Fall of the value of money after the increase reaches a certain variable amount,
this is called:
a. process factor c. law of diminishing return
b. law of supply and demand d. inflation Ans. d
10.Which of the following is true regarding the min. attractive of return used in
judging proposed investments?
a. It is larger than the interest rate used to discount expected cash flow from
investments.
b. It is frequently a policy decision made by an organization’s management.
c. It is the same for every organization.
d. It is not relevant in engineering economy studies. Ans. a
11.Any increase in cost, which is important in problems where it will be determined
whether an increase or decrease in production would be profitable for the
enterprise.
a. increment cost c. differential cost
b. marginal cost d. variable cost Ans. a
“A wise son loves correction, but the senseless one heeds no rebuke.” Proverbs 13:1
( (033) 337-1024

1. Assets in this classification which have no physical substance such as goodwill,

leasehold, copyrights, patents, franchise, licenses and trademarks:
a. intangible assets c. current assets
b. liquid assets d. fixed assets Ans. a
2. A financial ratio of cost of goods sold to the average inventory to show the
ability of the management to control investment inventory.
a. operating expense ratio c. inventory turnover
b. price earnings ratio d. equity ratio Ans. c
3. The value of personal and professional service rendered or of goods in the
operation of the business.
a. expense b. income c. credit d. equity Ans. b
4. A type of bond, which is issued sometimes by two or more corporations and are
guaranteed jointly and severally by them. Each of the issuing corporations is
liable for the entire bond issue in case of default.
a. Mortgage bond b. Debenture bonds c. Coupon bonds d. Joint bonds Ans. d
5. An accounting book where the original records of all transactions is ordinarily
recorded:
a. journal b. account form c. balance sheet d. ledger Ans. a
6. When one or more of the input factors of production is limited either by
absolute quantity or by increasing cost, adding more of the variable input
factors will result in an output’s being reached beyond which such additions
will result in a less than proportionate increase in output.
a. Law of variable proportion c. Law of marginal productivity
b. Law of supply and demand d. Law of diminishing return Ans. d
7. These are product or services that are desired by humans and will be purchased
if money is available after the required necessities have been obtained.
a. utilities c. product of goods and services
b. necessities d. luxury Ans. d
8. Debts or claims of anyone other than the owners of the property upon the assets
of the company. It consists of all the obligations of the company to other
persons in the form of money, other assets or services to be paid now or in the
future:
a. equities b. quit claim c. liabilities d. obligations Ans. c
9. The ratio between the average demand and maximum demand is called:
a. plant factor c. diversity factor
b. load factor d. demand factor Ans. b
10.A secondary book of accounts the information in which is obtained from the
journal. It is a secondary record, which presents analytically the effects of
transactions of the same nature on the assets, liabilities and ownership.
a. journal c. ledger
b. accounting portfolio d. books of account Ans. c
11.From the standpoint of the economist, the three elements of production are:
a. labor, land and capital c. land, building and capital
b. land, capital and managerial staff d. labor, building and land Ans. a
12.Assets which includes cash, accounts receivable within a short time or at least
within the present accounting period, raw materials, goods in the process of
production, and finish goods ready for sale.
a. liquid or current assets c. fixed assets
b. intangible assets d. prepaid expense Ans. a
“Faith by itself, if it does not have works, is dead.”

James 2:17
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1. A type of bond whose security is a mortgage on a certain specified assets of the

corporation.
a. collateral trust bonds c. debenture bonds
b. joint bonds d. mortgage bond Ans. d
2. The amount received from the sale of an additional unit of a product.
a. marginal revenue c. marginal cost
b. capital d. market value Ans. a
3. The additional cost producing one more unit:
a. Post mortem cost c. Promotion cost
b. Marginal cost d. Overhead cost Ans. b
4. This occurs when a unique product or service is a available only from a single
supplier and entry of all other possible suppliers is prevented:
a. Oligopoly c. Perfect competition
b. Law of supply and demand d. Monopoly Ans. d
5. It is the amount, which a willing buyer will pay to a willing seller for a
property where each has equal advantage and is under no compulsion to buy or
sell.
a. book value b. salvage value c. market value d. fair value Ans. c
6. These are product or services that are required to support human life and
activities, that will be purchased in somewhat the same quantity even though the
price varies considerably.
a. utilities c. producer of goods and services
b. luxury d. necessities Ans. d
7. The rate of interest quoted for a compound interest, which specifies the rate of
interest and the number of interest period per year.
a. exact interest c. effective rate of interest
b. nominal rate interest d. single compound amount interest Ans. b
8. It exist where few suppliers of a product or service that action by one will
almost inevitably result in similar action by the others.
a. monopoly b. competition c. demand d. oligopoly Ans. d
9. Type of interest which is compounded on the basis of one banker’s year which is
equal to 12 months or 360 days.
a. Ordinary simple interest c. Compound interest
b. Exact simple interest d. Discounted interest Ans. a
10.The index which indicates adequacy of control over expenses in a business
corporation:
a. Operating – expense ratio c. Current ratio
b. Price – earning ratio d. current ratio Ans. b
11.The ratio, which indicates the capacity to pay interest on debts particularly
long term debts.
a. total liabilities over total assets
b. quick assets over current liabilities
c. operating income over the annual interest expense
d. operating expense over net assets Ans. c
12.From the standpoint of management the three elements of cost are:
a. Material cost, production cost, marginal cost
b. Overhead expenses, materials cost, labor cost
c. Land cost, material cost, labor cost
d. Labor cost, material cost, construction cost Ans. b
“His mercy is on those who fear Him from generation to generation.”

Luke 1:50
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1. The excess of income over expenses:

a. profit c. rate of return
b. discount d. rate of investment Ans. a
2. The sum of all the expenses necessary to organize the business enterprise and
its financing until the time actual construction is done for the enterprise.
a. development cost c. working capital
b. construction cost d. promotion cost Ans. d
3. The excess of assets over liabilities:
a. equities b. sunk cost c. proprietorship d. annuities Ans. c
4. These are liabilities representing income, which have been paid to the
enterprise but for which the goods have not been delivered or any service
rendered to the payer.
a. prepaid income c. current liabilities
b. fixed liabilities d. equity Ans. a
5. These are assets in the form of money paid for certain materials not yet
delivered or services not yet rendered to the company.
a. liquid assets c. prepaid expense
b. fixed assets d. current assets Ans. c
6. The index, which indicates whether price of stock is compatible with earnings.
a. dividend yield c. equity ratio
b. price earning ratio d. acid test ratio Ans. b
7. A summary of the income and expenses of an individual or enterprises for a given
period.
a. balance sheet c. profit and loss statement
b. debit – credit d. assets – liabilities statement Ans. c
8. The sum of all direct materials costs and direct labor costs:
a. overhead cost b. production cost c. promotion cost d. prime cost Ans. d
9. The sum of direct materials cost, direct labor costs and overhead cost.
a. prime cost c. production cost
b. construction cost d. promotion cost Ans. c
10.A type of inventory of materials, which consists of the actual counting or
determination of the actual quantity of materials on hand of a given date.
a. perpetual inventory c. partial inventory
b. physical inventory d. post inventory Ans. b
11.A type of inventory of materials which consists of the preparation of inventory
cards and their being kept up to date for each type of equipment or materials
used or issued, and for the products completed or in the process of manufacture.
a. partial inventory c. physical inventory
b. post inventory d. perpetual inventory Ans. d
12.In almost every manufacturing enterprise, these are two types of departments:
a. executive department and service department
b. non productive and personnel departments
c. service department and executive department
d. productive and service departments Ans. d
13.A financial ratio, which indicates the short term liquidity of the business
firm.
a. current ratio b. equity ratio c. quick ratio d. debt ratio Ans. c
“There is no authority except from God,

and the authorities that exist are appointed by God.”
Romans 13:1
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1. The ratio of annual net profit to the amount of capital invested?

a. net-profit ratio c. capital-profit ratio
b. rate of return d. current ratio Ans. b
2. The index which measures the productivity of assets:
a. return on total assets c. operating-expense ratio
b. inventory turnover d. assets turnover Ans. a
3. The index, which gives the earning power of common stockholders equity.
a. Return on common stockholders equity
b. Net income/ annual preferred dividends
c. Times preferred dividends earned
d. Book value per share of common stock Ans. a
4. It represents money, which has been spent or capital which has been invested and
which cannot be recovered due to certain reasons, or it may be defined as the
unrecovered balance remaining if the net income received is less than the amount
of capital invested.
a. loss b. profit c. sunk cost d. discount Ans. c
5. The difference between the book value of an equipment and its resale value when
replaced.
a. unamortized value c. salvage value
b. depreciation d. sunk cost Ans. a
6. How is the capital recovery factor (A/P, i, n ) related to the uniform series
sinking fund factor (A/F, i, n)? i is the effective annual rate of return, and n
is in years.
a. (A/P, i, n) = (A/F, i, n) + i c. (A/P, i, n) = (A/F, i, n)/ i
b. (A/P, i, n) = (A/F, i, n) – i d. (A/P, i, n) = [(A/F, i, n)–i]/n Ans. a
7. What is an annuity?
a. the future worth of a present amount
b. an annual payment of a loan
c. a series of uniform amounts over a period of time
d. a lump sum at the end of the year Ans. c
8. Which of the following expressions is incorrect?
a. the future worth of a present amount, (F/P, i, n) = 1/ (P/ F, i, n )
b. the future worth of an annuity, (F/A, i, n ) = 1/(A/F, i, n)
c. the present worth of an annuity, (P/A, i, n) = 1/ (A/ P, i, n)
d. (A/F, i, n) – i = (A/ P, i, n) Ans. d
9. When using net present worth calculations to compare two projects, which of the
following could invalidate the calculation?
a. differences in the magnitudes of the projects
b. evaluating over different time periods
c. mutually exclusive projects
d. non-conventional cash flows Ans. b
10.What must two investments with the same present worth and unequal lives have?
a. identical salvage values
b. different equivalent uniform annual cash flows
c. identical equivalent uniform annual cash flows
d. different salvage values Ans. b
11.What is the formula for a straight-line depreciation rate?
a. (100% - % net salvage value)/ estimated service life
b. (average net salvage value)/ estimated service life
c. (100% net salvage value)/ estimated service life
d. (%net salvage value)/ estimated service life Ans. a
“Forgive us the wrongs we have done,

as we forgive the wrongs that other have done to us.” Matthew 6:14
( (033) 337-1024
1. Which of the following is true regarding the minimum attractive rate of return
used in judging proposed investments?
a. It is the same for every organization
b. It is larger than the interest rate used to discount expected cash flow from
investments.
c. It is frequently a policy decision made by an organization’s management.
d. It is not relevant in engineering economy studies. Ans. c
2. Which of the following statements is not correct?
a. A nominal rate of 12% per annum compounded quarterly in the same as (12%)/ 4
= 3% per quarter.
b. One dollar compounded quarterly at 3% for n years has a worth of (1.03)4/L
dollars.
c. Compounding quarterly at a nominal rate of 12% per year is equivalent to
compounding annually at a rate of 12.55%.
d. Effective rate of return in choices (A) through (D) is the difference between
12.55% and 12%. Ans. d
3. Which of the following situations has a conventional cash flow so that an
internal rate of return can be safely calculated and used?
a. You purchase a house and pay the bank in monthly installments.
b. You lease a car and pay by the month.
c. Your company undertakes a mining project in which the land must be reclaimed
at the end of the project.
d. You invest in a safe dividend stock and receive dividends each year. Ans. d
4. What is a borrower of a particular loan almost always required to do during
repayment?
a. pay exactly the same amount of interest each payment
b. repay the loan over an agreed-upon amount of time
c. pay exactly the same amount of principal each payment
d. (A) and (C) Ans. b
5. Which of the following does not affect owner’s equity?
a. dividends paid
b. license to start business
c. invested capital
d. expense to get license of start business Ans. b
6. What is the acid test ratio?
a. the ratio of owner’s equity to total current liabilities
b. the ratio of all assets to total liabilities
c. the ratio of current assets (exclusive of inventory) to total current
liabilities
d. the ratio of gross margin to operating expense, sales, and administrative
expenses Ans. c
7. Which of the following would be most difficult to monetize?
a. maintenance costb. selling price c. fuel cost d. prestige Ans. d
8. An amount F is accumulated by investing a single amount P for n compounding
periods with interest rate of i. Select the formula that relates P to F.
a. P = F (1 + i)–n c. P = F (1 + n)–i
b. P = F (1 + i) n
d. P = F (1 + ni)–1 Ans. a
“Learn to value wisdom while you are young,

and you will still be able to find her when you grow old.”
Sirach 6:18
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Room 303, 3rd Floor A.F. Lopez Bldg.

Subject: ENGINEERING ECONOMICS – ELEMENTS

1. A series of equal payments occurring at equal periods of time.

Subject: ENGINEERING ECONOMICS – ELEMENTS

Subject: ENGINEERING ECONOMICS – ELEMENTS

1. The process of determining the actual cost of manufacturing a product or of

Subject: ENGINEERING ECONOMICS – ELEMENTS

“He who guards his mouth preserves his life,

Subject: ENGINEERING ECONOMICS – ELEMENTS

Subject: ENGINEERING ECONOMICS – ELEMENTS

1. Assets in this classification which have no physical substance such as goodwill,

“Faith by itself, if it does not have works, is dead.”

Subject: ENGINEERING ECONOMICS – ELEMENTS

1. A type of bond whose security is a mortgage on a certain specified assets of the

“His mercy is on those who fear Him from generation to generation.”

Subject: ENGINEERING ECONOMICS – ELEMENTS

1. The excess of income over expenses:

“There is no authority except from God,

Subject: ENGINEERING ECONOMICS – ELEMENTS

1. The ratio of annual net profit to the amount of capital invested?

“Forgive us the wrongs we have done,

“Learn to value wisdom while you are young,

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