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NEW QUESTION: 1
In the prior accounting period, an entity incorrectly expensed a newly purchased piece of equipment rather than establishing an asset balance and beginning to depreciable it over the estimated useful life of the item. To correct this material error in the single period financial statements of the current period, the entity records which entry?
A. Option C
B. Option D
C. Option A
D. Option B
Answer: C
Explanation:
To correct the prior-period material error, the entity must, in the single-period statements issued for the current period, adjust the affected opening balances. Hence, the entity must debit equipment for its cost and credit accumulated depreciation for the depreciation expense appropriate for the first year of the estimated useful life. Retained earnings must be credited because the error understated profit or overstated loss in the prior period.
NEW QUESTION: 2
DRAG DROP
You have a Hyper-V host named Server1. Server1 hosts a virtual machine named VM1. You view the properties of VM1 as shown in the following exhibit. (Click the Exhibit button.)
You need to configure bandwidth management for VM1.
Which three actions should you perform in sequence? (To answer, move the appropriate three actions from the list of actions to the answer area and arrange them in the correct order.)
Answer:
Explanation:
Explanation:
Box 1: Shut down VM1.
Box 2: Add a network adapter to VM1.
Box 3: Configure the properties of the synthetic network adapter.
Note:
NEW QUESTION: 3
In a large enterprise, which two SAN switches are ideal core switches for providing high availability? (Choose two.)
A. Cisco Nexus 5548
B. Cisco MDS 9509
C. Cisco Nexus 7028
D. Cisco MDS 9710
E. Cisco MDS 9222i
Answer: B,D