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NEW QUESTION: 1
Which statement does NOT describe how revenue is handled under the latest standards under ASC 606 and IFRS 15?
A. You calculate the liability at inception and book it when either party acts. An Act could be shipping or invoicing.
B. You accrue for goods and services that you owe to customers because either you or they have relied on the contract. You no longer defer revenue.
C. Liability is a list of goods and services you actually owe to the customers for future satisfaction via transfer.
D. You value the accrual at estimated consideration and it is a monetary debt.
E. You book the invoiced amount to the P&L when you meet the regulatory definition by Industry.
Answer: B
NEW QUESTION: 2
In a manufacturing plant, the work definition and rate plans of Material, Resource, and Overhead of an assembly have been defined as required.
A cost accountant created different scenarios to represent different manufacturing and cost assumptions and compare the results. When the cost assumptions are finalized, the cost accountant is expected to publish the cost scenario to cost accounting.
Identify three process steps that the cost accountant has to perform to transfer the assembly to cost accounting in frozen type.
A. Publish cost planning scenario to Accounting.
B. Transfer Transactions from Inventory to Costing.
C. Create Accounting Distributions.
D. Define a cost planning scenario with Material, Resource, Overhead cost plans, and work definition.
E. Transfer transactions from production to Costing.
F. Build cost planning scenario and perform cost roll up.
Answer: B,C,D
NEW QUESTION: 3
You set up the document overview in the Enjoy SAP purchase order (transaction ME21N). What setting allows you to sort documents by vendor first and then by document number within a vendor?
Please choose the correct answer.
Response:
A. Personal settings for the transaction
B. Layout
C. Default values in Customizing
D. Breakdown
Answer: D
