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NEW QUESTION: 1
An inventory loss from a market price decline occurred in the first quarter, and the decline was not
expected to reverse during the fiscal year. However, in the third quarter the inventory's market price
recovery exceeded the market decline that occurred in the first quarter. For interim financial reporting, the
dollar amount of net inventory should:
A. Decrease in the first quarter by the amount of the market price decline and increase in the third quarter
by the amount of the market price recovery.
B. Not be affected in either the first quarter or the third quarter.
C. Decrease in the first quarter by the amount of the market price decline and increase in the third quarter
by the amount of the decrease in the first quarter.
D. Decrease in the first quarter by the amount of the market price decline and not be affected in the third
quarter.
Answer: D
Explanation:
Choice "a" is correct. Market price declines should be recognized in the interim period in which decline is
judged permanent and later, if they "turn around," are recognized as gains in subsequent periods only to
the extent of previously reported losses.
Choice "b" is incorrect. Recovery should not cause an increase in inventory value above original cost.
Choice "c" is incorrect. The recovery should be recognized to the extent of the first quarter write down.
Choice "d" is incorrect.

NEW QUESTION: 2
Which configuration option stores the query used to test database connectivity?
A. datasource.test.query
B. datasource.keep.alive.query
C. datasource.preferred-test-query
D. database.preferred-test-query
Answer: C

NEW QUESTION: 3
Which type of R77 Security Server does not provide User Authentication?
A. SMTP Security Server
B. FTP Security Server
C. HTTP Security Server
D. HTTPS Security Server
Answer: A

NEW QUESTION: 4
The actual use of force against another, which involves physical touching, is a willful tort called in common law:
A. Felonious assault
B. None of the above
C. Battery
D. Assault
E. Aggravated assault
Answer: C



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