Unplanned costs incurred when steps are taken to speed up a project's completion are called:
A) Expedited costs.
B) Accelerated costs.
C) Pass-through costs.
D) Normal costs.
A
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The following details are provided by Blue Bell Merchandisers. The company uses the periodic inventory system
Net Sales $200,000 Purchases 93,000 Purchase Returns and Allowances 1,600 Purchase Discounts 1,400 Freight In 1,500 Beginning Merchandise Inventory 63,000 Ending Merchandise Inventory 37,000 Calculate the amount of net purchases. A) $153,000 B) $88,500 C) $90,000 D) $107,000
A subsequent event for an entity with a December 31, 2013, year-end would not include:
A. A change in the estimated useful lives of equipment in January 2014. B. An issuance of bonds in January 2014. C. An acquisition of another company in January 2014. D. A major uncertainty at December 31, resolved in January 2014.