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NEW QUESTION: 1
Several sources of GAAP consulted by an auditor are in conflict as to the application of an accounting
principle. Which of the following should the auditor consider the most authoritative?
A. FASB Technical Bulletins.
B. FASB Statements of Financial Accounting Concepts.
C. AICPA Technical Practice Aids.
D. AICPA Accounting Interpretations.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Choice "A" is correct. In accordance with the GAAP hierarchy, FASB Technical Bulletins are considered
the most authoritative of the sources listed in the question.
Choice "B" is incorrect. Of the sources listed, AICPA Accounting Interpretations would be considered the
second most authoritative.
Choice "C" is incorrect. FASB Statements of Financial Accounting Concepts are among the least
authoritative sources of GAAP available to auditors.
Choice "D" is incorrect. AICPA Technical Practice Aids are among the least authoritative sources of GAAP
available to auditors.

NEW QUESTION: 2
Only two Trust to Untrust allow rules have been created in the Security policy
Rule1 allows google-base
Rule2 allows youtube-base
The youtube-base App-ID depends on google-base to function. The google-base App-ID implicitly uses SSL and web-browsing. When user try to accesss https://www.youtube.com in a web browser, they get an error indecating that the server cannot be found.
Which action will allow youtube.com display in the browser correctly?
A. Add the DNS App-ID to Rule2
B. Add SSL App-ID to Rule1
C. Create an additional Trust to Untrust Rule, add the web-browsing, and SSL App-ID's to it
D. Add the Web-browsing App-ID to Rule2
Answer: B

NEW QUESTION: 3
The semiannually compounded rate is 10% quoted on an annualized basis. The equivalent annually compounded rate is:
A. 10.5%
B. 10.25%
C. 9.65%
D. 10.1%
Answer: B
Explanation:
Explanation/Reference:
Explanation:
To solve such problems, think about investing a dollar for a year. The final amount should be the same under both the quotations. Under annually compounded rate, r, $1 grows to 1+r in 1 year. Under semiannual compounding, it grows to (1+0.1/2)