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NEW QUESTION: 1

A. Option B
B. Option A
C. Option D
D. Option C
Answer: C

NEW QUESTION: 2
Which is the correct order of the following four steps in the accounting cycle?
Step 1 Prepare adjusting journal entries
Step 2 Take a post-closing trial balance
Step 3 Prepare an adjusted trial balance
Step 4 Prepare reversing entries
A. 3, 1, 2, 4
B. 1, 3, 2, 4
C. 1, 2, 3, 4
D. 4, 1, 3, 2
Answer: B
Explanation:
The accounting cycle may be summarized as consisting of nine steps: record the period's transactions in the appropriate journals, post to the ledger(s) from the journals, prepare an unadjusted trial balance, prepare and post adjusting journal entries, prepare an adjusted trial balance, prepare the financial statements, prepare and post the closing entries take a post-closing trial balance and prepare reversing entries optional). On January 1, a new landscaping firm. Bandit Co. acquired a fleet of vehicles, all the necessary tools and equipment. and a parking and storage facility. It began operations immediately. It is now the end of the first year of operations, and the first set of year-end financial statements are being prepared. Several decisions have to be made regarding the appropriate accounting and reporting practices for this company. Relevant information for several of these items is described in the following list of transactions and events: At year-end. the parking and storage facility that was purchased for US $150,000 has a fair value of US $250,000. The physical flow of inventory is first in. first out, and the cost of materials has risen steadily over the year. To promote sales for the coming year. maintenance contracts were sold in December at very reasonable prices, provided that the customers paid cash. On April 1, the company arranged a US $100,000. 10% bank loan. Interest payments of US $5,000 are due on October 1 and April 1 of each year during the 5-year term of the loan. During the first year of operations, the company experienced a 5% bad debt rate on credit sales. None of the bad debts are expected to be recovered, given that 5% is the industry average level of bad debts. Total credit sales for the year were US $400,000. The year-end balance of accounts receivable includes uncollected overdue accounts of US $100,000. Half of the uncollected overdue amounts are estimated to be uncollectible.

NEW QUESTION: 3

A. Option C
B. Option D
C. Option B
D. Option A
Answer: A
Explanation:
Applying an Access List to an Interface
#interface type number
#ip access-group {access-list-number | access-list-name} { in | out} Source:
http://www.cisco.com/c/en/us/td/docs/ios-xml/ios/sec_data_acl/configuration/xe-3s/sec-data-acl- xe-3s- book/sec-create-ip-apply.html

NEW QUESTION: 4
What should an IS auditor do if he or she observes that project-approval procedures do not exist?
A. Advise senior management to invest in project-management training for the staff
B. Assign project leaders
C. Recommend to management that formal approval procedures be adopted and documented
D. Create project-approval procedures for future project implementations
Answer: C
Explanation:
Explanation/Reference:
Explanation:
If an IS auditor observes that project-approval procedures do not exist, the IS auditor should recommend to management that formal approval procedures be adopted and documented.


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