Which of the following statements is correct regarding reporting of special events and related direct costs under current FASB standards? A. Special events revenues are to be reported at gross amounts, even if direct costs are of a peripheral or incidental nature. B. Special events and related direct costs must be reported separately at their gross amounts if they relate to the ongoing major operations of a not-for-profit. C. With few exceptions special events revenues are reported net of related direct costs. D. Expenses of promoting and conducting special events should be netted directly against special events revenue.

Abc factory produces 24,000 units. the cost sheet gives the following information: direct materials rs. 1,20,000direct labour rs. 84,000variable overheads rs. 48,000semi variable overheads rs. 28,000fixed overheads rs. 80,000total cost rs. 3,60,000presently the product is sold at rs. 20 per unit.the management proposes to increase the production by 3,000 units for sales in the foreign market . it is estimated that semi variable overheads will increase by rs. 1,000. but the product will be sold at rs. 14 per unit in the foreign market. however, no additional capital expenditure will be incurredq-1. what is present profit of the company ? q-2. what is proposed profit of the company in new market? q-3.what is suggestion for new makret proposal whether proposal accept or not