The Actual Cost on a Project Is

question 47

Multiple Choice

The actual cost on a project is

• A) the planned amount to be spent on the project plus unexpected costs
• B) the sum of the budgeted costs.
• C) the amount of funds expended on the project.
• D) the total of the unexpected costs.

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Definitions:

Catalog Price

The listed price of goods or services in a supplier's catalog, not including any discounts or promotions.

Credit Terms

The conditions under which credit will be extended to a customer, including the repayment period and any discounts for early payment.

Multiple-Step Income Statement

An income statement that shows multiple steps in determining net income, including gross profit, operating income, and other incomes and expenses.

Selling Expenses

Costs associated with the selling of a company's goods or services, not including the cost of producing the goods.