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NEW QUESTION: 1
What does a Variable Consideration require?
A. an estimate of the consideration be made at Inception, and corrections of the accrual at made at each period end until revenue Is recognized
B. a disclosure be made to the shareholders
C. an estimate of the consideration be made at inception only
D. that the consideration be monetary
Answer: C
Explanation:
Explanation
https://cloud.oracle.com/opc/saas/RevMgmt/r12/wn/r12-revenue-wn.pdf (p.15)

NEW QUESTION: 2
If X percent of 2.5X are 3X, then X could be?
A. 170.
B. 180.
C. 150.
D. 90.
E. 120.
Answer: E
Explanation:
Explanation/Reference:
Explanation:
X percent is X/100.
X percent of 2.5X is (X/100)(2.5X) = (X/100)(5X/2) = 3X divide both sides by X.
(X/40) = 3 ---> X = 120.

NEW QUESTION: 3
An employee who recently transferred into the internal audit activity has been assigned to audit the accounts payable system. Which function, if previously performed by this employee, would represent a conflict of interest?
A. Writing procedures for the handling of duplicate payments.
B. Monitoring the allowance for doubtful accounts.
C. Signing timekeeping cards for subordinates.
D. Reviewing shipping documents for accuracy.
Answer: A