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NEW QUESTION: 1
Consider the following sentences, Which of these combinations is true?
1) A base currency can be assigned to an exchange rate type.
2) To deal with exchange rate spreads, two very efficient combinations of the exchange
rate tools are using a base currency for the average rate (M) and using the exchange rate spreads to calculate the buying and selling rates (B and G).
3) A base currency can be used for an average, a buying or a selling rate. 4) The relations between currencies have to be maintained per exchange rate type and currency pair in the translation factors.
Please choose the correct answer.
Response:
A. 2, 3 and 4
B. 1, 2, 3 and 4
C. 1, 2 and 4
D. 1, 2 and 3
E. 1, 3 and 4
Answer: C
NEW QUESTION: 2
What are the requirement to configure DHCP binding? (Choose two.)
A. DHCP pool
B. ip address
C. Hardware address
D. other option
Answer: B,C
NEW QUESTION: 3
A Euro denominated payment can be settled through all of the following EXCEPT:
A. Correspondent Banking.
B. ACSS (Automated Clearing Settlement System).
C. TARGET (Trans-European Automated Real-Time Gross Settlement Express Transfer System).
D. EBA (Euro Bankers Association).
Answer: B
NEW QUESTION: 4
On December 1, 1992, Michaels, a self-employed cash basis taxpayer, borrowed $100,000 to use in her
business. The loan was to be repaid on November 30, 1993. Michaels paid the entire interest of $12,000
on December 1, 1992. What amount of interest was deductible on Michaels' 1993 income tax return?
A. $12,000
B. $1,000
C. $11,000
D. $0
Answer: C
Explanation:
Explanation
Choice "b" is correct. Prepaid interest must be prorated over the time for which payment is made. This is
true for both cash and accrual basis taxpayers. The loan is for 1 month in 1992 and 11 months in 1993.
Therefore, 1/12 of the interest is deductible in 1992 and 11/12, or $11,000 is deductible in 1993.
Choices "a", "c", and "d" are incorrect. Prepaid interest must be prorated over the time for which payment
is made. This is true for both cash and accrual basis taxpayers.
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