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NEW QUESTION: 1
Tex Payor is an investor in the Invest4U Mutual Fund. The manager of the fund, fearing a substantial decline in the stock market, sold a lot of the fund's holdings to lock in profits. As a result, the fund earned a lot of long-term capital gain income.
Which of the following statements is true regarding the tax treatment of this income?
A. Tex must pay taxes on that portion of the long-term capital gain income that Invest4U distributes to him.
B. Tex must pay taxes only on dividend income distributed by Invest4U.The mutual fund itself pays tax on any capital gains it earns.
C. Tex must pay taxes on his proportionate share of the long-term capital gain income earned by Invest4U, whether distributed or not.
D. None of the above is a true statement.
Answer: A
Explanation:
Explanation/Reference:
Explanation: Tex must pay taxes on that portion of the long-term capital gain income that Invest4U distributes to him. Invest4U is required to distribute at least 98% of its capital gain income to its shareholders.
NEW QUESTION: 2
Explain in own words the integration solution option Full Cloud.
A. Move your PA & OM to SAPSuccessFactors > keep Payroll > Time & attendance onpremise
B. You move everything in SAP HCM to the Cloud - and I mean everything
C. Only move your talent solution to SAPSuccessFactors -keep OM, PA, Payroll with more on-premise
Answer: B
NEW QUESTION: 3
Refer to the exhibit.
You just completed an upgrade of Cisco VSM from version 7.0 to 7.0.1 using the management
console. You also want to change the network settings of this server during this upgrade, but the fields are greyed out.
What is causing this issue?
A. The Cisco VSM services must be restarted before the network settings can be modified.
B. The server is running the Cisco VSOM application and you should use the Cisco VSOM interface to change the network configurations.
C. The server is a co-located deployment (Cisco VSOM + Cisco VSMS applications) and the network was configured using the operating system. Changes should also be made using the operating system.
D. The server is running the Cisco VSMS application and you should use the Cisco VSOM interface to change the network configurations.
Answer: D
NEW QUESTION: 4
In obtaining an understanding of an entity's internal control in a financial statement audit, an auditor is not
obligated to:
A. Perform procedures to understand the design of internal control.
B. Search for significant deficiencies in the operation of internal control.
C. Determine whether the control activities have been implemented.
D. Document the understanding of the entity's internal control components.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Choice "D" is correct. When obtaining an understanding of an entity's internal control in a financial
statement audit, an auditor is not obligated to search for significant deficiencies in the operation of internal
control.
Choice "A" is incorrect. In order to determine the nature, timing and extent of tests to be performed, an
auditor must determine whether the control activities have been implemented.
Choice "B" is incorrect. An auditor is required to perform procedures to confirm his/her understanding of
the internal control systems' design, and to determine whether relevant controls have been implemented.
Choice "C" is incorrect. An auditor is required to document his or her understanding of the entity's internal
control components, even if he or she intends to use a substantive approach.