Certified Cost Professional (CCP) Exam: CCP

A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:

A. Surety bond

B. Performance bond

C. Bid bond

D. Liability bond

Money is value. Having money when you need it is very important. Money can also be valuable when used wisely by knowing when to spend and when to conserve Also, planning now for future expenses can be a plus to the company rather than a debit.

There are several ways to capitalize money and spending. Basically there is the single payment method that has a compound amount factor and a present worth factor. There is the uniform annual series that has a sinking fund factor, capital recovery factor and also the compound amount factor and present worth factor. At this point, we can assure money is worth 10%.

The following question requires your selection of CCC/CCE Scenario 7 (4.8.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses. If $20,000 is invested at the end of each fiscal year for the next 10 years, how much would our total investment be worth assuming the interest is at 10%?

A. $289,370

B. $318,740

C. $265,798

D. $420,236

An agricultural corporation that paid 53% in income tax wanted to build a grain elevator designed to last twenty-five (25) years at a cost of $80,000 with no salvage value. Annual income generated would be $22,500 and annual expenditures

were to be $12,000.

Answer the question using a straight line depreciation and a 10% interest rate.

The following question requires your selection of CCC/CCE Scenario 17 (4.2.50.1.1) from the right side of your split screen, using the drop down menu, to reference during your response/choice of responses.

All of the following are included in "income tax" calculations except:

A. Annual income

B. Annual expenditures

C. Depreciation

D. Initial cost of investment