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  • Exam Code: S2000-020
  • Exam Name: IBM Power Virtual Server v1 Specialty
  • Version: V15.35     Q & A: 208 Questions and Answers

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NEW QUESTION: 1


Answer:
Explanation:

Explanation


NEW QUESTION: 2
On August 31, 1992, Harvey Co. decided to change from the FIFO periodic inventory system to the
weighted average periodic inventory system. Harvey is on a calendar year basis. The cumulative effect of
the change is determined:
A. As of January 1, 1992.
B. During 1992 by a weighted average of the purchases.
C. As of August 31, 1992.
D. During the eight months ending August 31, 1992, by a weighted average of the purchases.
Answer: A
Explanation:
Rule: The cumulative effect of a change in accounting principle equals the difference between retained
earnings at the beginning of period of the change and what retained earnings would have been if the
change was applied to all affected prior periods. Choice "a" is correct. As of January 1, 1992, the
beginning of the year. This assumes that the company is not presenting comparative financial statements.
If comparative financial statements are presented, then the adjustment is made to the beginning retained
earnings of the earliest year presented. Choice "b" is incorrect. The cumulative effect of the change is not
determined as of the date the decision is made. Choices "c" and "d" are incorrect. The cumulative effect of
the change is not determined by a weighted average. (A far out distractor.)

NEW QUESTION: 3
Refer to the exhibit.

Cisco 642-447 Exam
Which conference resource will conference 6 use?
A. HW_CFB_2
B. SW_CFB_1
C. SW_CFB_2
D. HW_CFB_1
E. SW_CFB_3
Answer: B

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