A projected cost for the future is a
a. direct cost.
b. fixed cost.
c. inventoriable cost.
d. budgeted cost.
D
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After recent debacles, especially in banking and investment, and with the penetration of social media, what does the public expect from all corporations?
A) more upbeat dialogue B) more accurate numbers C) better technology D) more candid communication
The time at which materials that have already been ordered will arrive is called ______.
A. planned order receipt B. planned order release C. scheduled receipt D. scheduled order arrival
A factor that contributes to effective teamwork in business is
A) an atmosphere that encourages individual accomplishment. B) financial bonuses for high-performing individuals in the team. C) financial bonuses for high-performing teams. D) a firm commitment to groupthink.
White Company acquires a new machine for $75,000 and uses it in White’s manufacturing operations. A few months after White places the machine in service, it discovers that the machine is not suitable for White’s business. White had fully expensed the machine in the year of acquisition using § 179. White sells the machine for $60,000 in the tax year after it was acquired but held the machine only for a total of 10 months. What was the tax status of the machine when it was disposed of and the amount of the gain or loss?
A. A capital asset and $60,000 gain. B. An ordinary asset and $60,000 gain. C. A § 1231 asset and $60,000 gain. D. A § 1231 asset and $60,000 loss. E. None of these.