The "accounts payable" account should generally be used only for trade accounts payable (obligations owed to suppliers in the normal course of business) which relate to the purchase of goods and services.

Under the perpetual inventory method, merchandise inventory is assigned to Cost of Goods Sold when a company:

A) receives the inventory. B) purchases the inventory. C) sells the inventory. D) makes payment on the inventory.

The earliest start time for an activity is

a. the date that all the resources for the project are available. b. calculated using the project start time and the estimated duration of all of its preceding activities. c. cannot be earlier than estimated, even if some activities are accelerated. d. should not be delayed or would cause the project to be delayed.