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NEW QUESTION: 1
The correct order of the following steps of the accounting cycle is:
A. Posting, closing, adjusting, reversing.
B. Adjusting, posting. closing. Reversing
C. Posting, adjusting. closing. Reversing
D. Posting, reversing, adjusting, closing.
Answer: C
Explanation:
The order of the steps in the accounting cycle is identification and measurement of transactions and other events required to be recognized, journalization, posting from the journals to the ledgers, the development of a trial balance, adjustments to produce an adjusted trial balance. statement presentation, closing, taking a post closing trial balance optional), and making reversing enterprise optional).
On October 1, year 1, the entity paid us$ 18,000 to renew its only insurance policy for a 3year period beginning on that date this transaction has not been recorded. salaries and wages of us$1,700 have been incurred but not paid as of December 31,year1.at December 31,year 1,the balance per bank statement was US$12,000.outstanding cheaks amounted to US $,900.interest of US $40 was credited to the entity's account by the bank during December, but has not yet been entered on the books.
NEW QUESTION: 2
Which of the following MUST an organization do to effectively communicate is security strategy to all affected parties?
A. Notify staff of changes to the strategy.
B. Provide regular updates to the board of directors.
C. Involve representatives from each key organizational area.
D. Remove potential communication barriers.
Answer: A
NEW QUESTION: 3
Which log file should be checked to determine why an IP resource faulted?
A. hacf-err_txt
B. IP_A.txt
C. IP_ipm_A.txt
D. hacf-log_A.txt
Answer: B
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