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NEW QUESTION: 1

A. Option C
B. Option D
C. Option A
D. Option B
Answer: A,C

NEW QUESTION: 2
Sparten, Inc., a plumbing contractor, received a check for $3,000 on June 30 for services to be performed in the following fiscal month. During the July accounting period, Sparten completed all but $500 of the job.
What adjusting entry needs to be made at the end of July?
A. increase Cash and Revenue for $3,000
B. increase Unearned Revenue and decrease Cash for $500
C. debit Unearned Revenue and credit Revenue for $2,500
D. decrease Accounts Receivable and increase Revenue for $2,500
Answer: C
Explanation:
Explanation/Reference:
Explanation:
When the check was received on June 30, a liability was established for $3,000 because revenue could not be recognized until it was earned. During July, $2,500 of revenue was earned and should be recognized, along with a reduction (debit) to the Unearned Revenue account.

NEW QUESTION: 3
During scoping, you have selected the option to allow multiple territories per account. How does this impact the system behavior in the realignment of accounts and territories? Note: There are 2 correct answers to this question.
A. Additional fields become available for territory determination
B. The Override Territory box is not available
C. Access restrictions for territories are not available
D. The Define Exceptions step is disabled
Answer: C,D