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NEW QUESTION: 1
A vendor sells specialty inks on consignment to a manufacturer of colored paper at a price of US $200 per barrel. Payment is made to the vendor in the month the manufacturer uses the barrels in production. The vendor records revenues when the barrels are shipped and makes no adjusting entries to record unearned revenues until the December 31 closing of the books. At the end of July the manufacturer had 40 barrels of ink on consignment.
During August, the vendor consigned 50 barrels and received payment for 30 barrels. Another five barrels were returned to the vendor by the manufacturer for credit. At the end of August, what is the amount of unearned revenue contained in the vendor's accounts receivable from the manufacturer?
A. US $12,000
B. US $3,000
C. US $4,000
D. US $11,000
Answer: D
Explanation:
Under a consignment arrangement the consignor ships merchandise to the consignee who acts as agent for the consignor in selling the goods. The goods are in the physical possession of the consignee but remain the property of the consignor and are included in the consignor's inventory. Revenue and the related cost of goods sold from these consigned goods should only be recognized by the consignor when the merchandise is sold and delivered to the final customer. Accordingly, recognition occurs when notification is received that the consignee has sold the goods. Only then are the recognition criteria for a sale of goods satisfied: The enterprise has transferred the significant risks and rewards of ownership, the enterprise has neither continuing managerial involvement to an extent associated with ownership nor effective control over the goods, the amount can be reliably measured, it is probable that the economic benefits will flow to the enterprise, and transactional costs can be reliably measured. In this consignment arrangement. 30 barrels have been paid for, so the revenue is recognized for these barrels. The five barrels returned are not included in unearned revenue because they constitute a return of consigned goods. Accordingly, the amount of inappropriately recognized revenue is US $11,000 [(40 consigned + 50 consigned - 30 paid for- 5 returns) x $200].
NEW QUESTION: 2
Welche Art von personenbezogenen Daten definiert die DSGVO als "besondere Kategorie" personenbezogener Daten?
A. Finanzinformationen.
B. Gewerkschaftsmitgliedschaft.
C. Bildungsgeschichte.
D. Videoüberwachung (Closed Circuit Television, CCTV).
Answer: B
NEW QUESTION: 3
The network administrator at Spears Technology, Inc has configured the default gateway Cisco router's access-list as below:
You are hired to conduct security testing on their network. You successfully brute-force the SNMP community string using a SNMP crack tool. The access-list configured at the router prevents you from establishing a successful connection. You want to retrieve the Cisco configuration from the router. How would you proceed?
A. Send a customized SNMP set request with a spoofed source IP address in the range - 192.168.1.0
B. Run Generic Routing Encapsulation (GRE) tunneling protocol from your computer to the router masking your IP address
C. Use the Cisco's TFTP default password to connect and download the configuration file
D. Run a network sniffer and capture the returned traffic with the configuration file from the router
Answer: A,D
NEW QUESTION: 4
Scenario:
CGE is experiencing numerous issues with its existing profile management solution. The Citrix Architect managing the project is tasked with designing a solution that alleviates existing issues and, if possible, minimizes the loss of existing customizations. Configuration changes need to be implemented quickly and with minimal complexity.
Why does enabling 'Profile streaming' when configuring group profiles benefit CGE's Sales end-user group?
A. It improves application performance.
B. It allows faster logons.
C. It simplifies home drive cleanup.
D. It minimizes the required storage needed for folder redirection.
Answer: B