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NEW QUESTION: 1
If a firm recognizes expenses before that dictated by accrual accounting, which of the following best describes the effects on income, total assets and retained earnings?
Income Total assets Retained earnings
I. Understated Understated Understated
II. Understated Overstated Understated
III. Overstated Understated Overstated
IV. Understated Overstated Overstated
A. III.
B. II.
C. IV.
D. I.
Answer: D
Explanation:
Explanation/Reference:
Explanation:
Total assets Retained earnings Understated Understated Overstated Understated Understated Overstated Overstated Overstated If expenses are recognized before they should be, then income gets understated since you subtract more from the revenues than you should. Hence, retained earnings get understated, leading to an understatement of total equity. Since assets equal liabilities plus equity and liabilities have not been affected, the understatement of equity leads to an understatement of assets.
NEW QUESTION: 2
A. Investigate
B. AMP for Endpoint
C. Cisco Defense Orchestrator
D. Umbrella
Answer: B
Explanation:
Explanation
ASAS Cisco Cloud Security SE - Module 3
NEW QUESTION: 3
The logs in a FSSO collector agent (CA) are showing the following error: failed to connect to registry: PIKA1026
(192.168.12.232) What can be the reason for this error?
A. The remote registry service is not running in the workstation 192.168.12.232.
B. The FortiGate cannot resolve the name of the workstation.
C. The CA cannot reach the FortiGate with IP address 192.168.12.232
D. The CA cannot resolve the name of the workstation.
Answer: A
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