Please help me with these.

MC Qu. 12-3 Accrued expenses...

What is the answer here? I got this wrong. I thought it was B but its not.

Accrued expenses are:

A. used in one period but not paid for or recorded until a later period.

B. paid for and recorded in one period but not fully used until a later period.

Incorrect

C. paid for, recorded, and used in one period.

D. bugeted but not paid for or used during the period.

MC Qu. 12-4 On July 1, 2016, a firm purchased equipment...

On July 1, 2016, a firm purchased equipment for $7,200. Depreciation expense for the year ended December 31, 2016, given the straight-line method, a 5-year useful life, and a salvage value of $600, is:

I thought it was A, but I got it wrong.

A. $1,320.

B. $720.

C. $660.

D. $1,440.

MC Qu. 13-2 The cost of goods sold is calculated as...

The cost of goods sold is calculated as follows:

• Beginning Merchandise Inventory plus Net Delivered Cost of Purchases less Ending Merchandise Inventory equals Cost of Goods Sold.

• Total Merchandise Available for Sale less Ending Merchandise Inventory.

• Neither A or B.

• Both A and B.