The Three Major Types of Special Adjustments to List or Quoted

question 66

Multiple Choice

The three major types of special adjustments to list or quoted price are

• A) demand-oriented, cost-oriented, and profit-oriented adjustments.
• B) one price, flexible price, and discounts.
• C) discounts, allowances, and marginal adjustments.
• D) discounts, allowances, and geographical adjustments.
• E) discounts, incremental costs and revenues, and geographical adjustments.

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Definitions:

Unrecognized Past Service Cost

Costs associated with pension plan benefits earned by employees in prior periods not yet reflected in financial statements.

Periodic Pension Expense

The total expense recognized in a period related to an organization’s pension plan.

Funded Status

The financial condition of a pension or other post-employment benefit plan, calculated as the difference between plan assets and obligations.

Defined Contribution Plan

A retirement plan in which the employer, employee, or both make contributions on a regular basis, but the final amount received by the employee depends on the plan's investment performance.