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NEW QUESTION: 1
Evaluate these commands which execute successfully:

Which two statements are true about the ORD_ITEMS table and the ORD_SEQ sequence?
A. Any user inserting rows into table ORD_ITEMS must have been granted access to sequence ORD_SEQ.
B. If sequence ORD_SEQ is dropped then the default value for column ORD_NO will be NULL for rows inserted into ORD_ITEMS.
C. Sequence ORD_SEQ is guaranteed not to generate duplicate numbers.
D. Sequence ORD_SEQ cycles back to 1 after every 5000 numbers and can cycle 20 times.
E. Column ORD_NO gets the next number from sequence ORD_SEQ whenever a row is inserted into ORD_ITEMS and no explicit value is given for ORD_NO.
Answer: A,C

NEW QUESTION: 2
A manufacturer receives an advance payment for special-order goods that are to be manufactured and delivered within the next year. The advance payment should be reported in the manufacturer's current-year balance sheet as a(n):
A. Contra asset amount.
B. Current liability
C. Accrued revenue.
D. Noncurrent liability
Answer: B
Explanation:
Recognition of an element of financial statement, income which includes revenue and gains) requires that two criteria be met. It must be probable that any future economic benefit associated with the item will flow to or from the enterprise, and the cost or value of the item must be measurable with reliability. The usual procedures for income recognition, e.g., that income be earned, reflect these criteria. Thus, income is recognized when an increase in future economic benefits is associated with an increase in an asset or a decrease in a liability. However, the enterprise has not substantially completed what it must do to be entitled to the benefits represented by the advance payment, and the receipt of future economic benefits is not sufficiently certain to merit income recognition.
Accordingly, a liability should be recognized because the entity has a current obligation arising from a past event that will require an outflow of economic benefits, that is, to deliver goods or to refund the customer's money. The delivery of good is to take place within a year of the balance-sheet date, therefore, the obligations is expected to be settled in the normal course of the operating cycle or is due to be settled within 12 months.

NEW QUESTION: 3
On a Net-Net 4500, a hardware-based timer will reset the system in the event of a catastrophic software or operating system failure.
This hardware timer is reset (preventing it from triggering) by the__________.
A. Watchdog process
B. Console-timeout/telnet-timeout configuration in system-config
C. Border Element Redundancy Protocol Daemon (BERPD)
D. Acme Control Protocol Daemon
E. System clock
Answer: A