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NEW QUESTION: 1
On January 2, 1993, Quo, Inc. hired Reed to be its controller. During the year, Reed, working closely with Quo's president and outside accountants, made changes in accounting policies, corrected several errors dating from 1992 and before, and instituted new accounting policies.
Quo's 1993 financial statements will be presented in comparative form with its 1992 financial statements.
This question represents one of Quo's transactions. List B represents the general accounting treatment required for these transactions. These treatments are:
* Cumulative effect approach - Include the cumulative effect of the adjustment resulting from the accounting change or error correction in the 1993 financial statements, and do not restate the 1992 financial statements.
* Retroactive or retrospective restatement approach - Restate the 1992 financial statements and adjust 1992 beginning retained earnings if the error or change affects a period prior to 1992.
* Prospective approach - Report 1993 and future financial statements on the new basis but do not restate 1992 financial statements.
Item to Be Answered
As a result of a production breakthrough, Quo determined that manufacturing equipment previously depreciated over 15 years should be depreciated over 20 years.
List B (Select one)
A. Cumulative effect approach.
B. Prospective approach.
C. Retroactive or retrospective restatement approach.
Answer: B

NEW QUESTION: 2
A customer has a head office with a number of branch offices that have no local servers. The customer requires a file-serving solution that provides these benefits:
Which solution should you propose to meet the customer requirements?
A. HP StoreAll 9000 Storage
B. HP StoreEasy 1000 Storage
C. HP StoreSure 2000 Storage
D. HP StoreEasy 5000 Storage
Answer: B

NEW QUESTION: 3
If HP JetAdvantage Insights was deployed prior to JetAdvantage Insights Scouts?
A. existing Device Scouts only
B. Windows Server Update Services features
C. existing Print Scouts only
D. existing Device and Print Scouts
Answer: A