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NEW QUESTION: 1
Which of the following statement(s) is/are true?
I). The conservatism concept is designed to avoid overstatement of financial strength or earnings.
II). Accountants' preference for using dollar amounts that are relatively factual, as opposed to merely matters of personal opinion, is called objectivity.
III). All expenditures benefiting more than one time period can be precisely divided by accounting periods.
IV). The accrual basis of accounting calls for recording revenue in the period in which it is earned and recording expenses in the period in which they are incurred.
A. I, II, IV.
B. I, II and III.
C. II, III and IV.
Answer: A
Explanation:
I). Conservatism is the traditional accounting practice of resolving uncertainty by choosing the solution that leads to the lower (more conservative) amount of income being recognized in the current accounting period.
II). Objectivity refers to the accountants' preference for using dollar amounts that are relatively factual--as opposed to merely matters of personal opinion. Objective measurements can be verified.
III). Precise allocation to accounting periods is possible with some expenditures, however, for many expenditures, especially those involving assets with relatively long lives, estimations and approximations are necessary.
IV). Under the accrual basis of accounting, the effect of events on the business is recognized as services are rendered or consumed rather than when cash is received or paid.
NEW QUESTION: 2
You are configuring internal virtual networks to support multitenancy communication between tenant virtual machine networks and remote sites.
You have a tenant named Tenant1.
You need to enable Border Gateway Protocol (BGP) for Tenant1.
Which commands should you run? To answer, select the appropriate options in the answer area.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION: 3
A. Modify
B. Write
C. Read
D. Execute
Answer: A
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