Which of the Following Is an Objective of Value Engineering

question 51

Multiple Choice

Which of the following is an objective of value engineering?

• A) to reduce cost by eliminating all value-added activities
• B) to streamline and add non-value added activities
• C) to reduce the total cost of the product
• D) to understand competitors' product design

---

Definitions:

Nominal rate

The stated or face interest rate on a loan or investment, not adjusted for inflation or the frequency of compounding.

Compounded annually

A way of calculating interest where the interest is added to the principal at the end of each year, leading to an increase in the amount on which the following year's interest is calculated.

RRSP fund

A Registered Retirement Savings Plan (RRSP) fund is a retirement savings plan sponsored by the Canadian government, allowing citizens to save for retirement on a tax-sheltered basis.

Nominal rate

An interest rate or return quoted on an investment or loan, not adjusted for inflation or other factors.