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NEW QUESTION: 1
On December 1, 1997, Krest, a self-employed cash basis taxpayer, borrowed $200,000 to use in her business. The loan was to be repaid on November 30, 1998. Krest paid the entire interest amount of
$24,000 on December 1, 1997. What amount of interest was deductible on Krest's 1997 income tax return?
A. $24,000
B. $2,000
C. $22,000
D. $0
Answer: B
Explanation:
Explanation
Choice "b" is correct. Cash basis taxpayers deduct interest in the year paid or the year to which the interest relates, whichever is later. Even though all of the interest on this loan was paid on December
1, 1997, only the interest relating to December 1997 can be deducted in 1997. The question does not give an interest rate, but because the loan is to be repaid in a lump sum at maturity, 1/12 of the interest, or $2,000 applies to each month.
Choice "a" is incorrect. Because $2,000 of the interest relates to 1997, this amount is deductible in
1997.
Choice "c" is incorrect. This is the amount that cannot be deducted until 1998, the year to which the interest relates. Be sure to read questions like this very carefully, because if you had simply misread the question as seeking the amount deductible in 1998, you would get the question wrong despite understanding the rule.
Choice "d" is incorrect. Cash basis taxpayers can deduct interest in the year paid or the year to which the interest relates, whichever is later, thus 11 months of the interest will not be deductible until
1998.
NEW QUESTION: 2
Linux 기반 AWS 및 온 프레미스 서버와 함께 사용할 수 있는 간단하고 확장 가능한 공유 파일 스토리지 솔루션을 제공하는 AWS 서비스는 무엇입니까?
A. Amazon Glacier
B. Amazon EBS
C. Amazon EFS
D. Amazon S3
Answer: C
Explanation:
Explanation
Amazon Elastic File System (Amazon EFS) provides a simple, scalable, fully managed elastic NFS file system for use with AWS Cloud services and on-premises resources. It is built to scale on demand to petabytes without disrupting applications, growing and shrinking automatically as you add and remove files, eliminating the need to provision and manage capacity to accommodate growth.
Amazon EFS is designed to provide the throughput, IOPS, and low latency needed for Linux workloads.
Throughput and IOPS scale as a file system grows and can burst to higher throughput levels for short periods of time to support the unpredictable performance needs of file workloads. For the most demanding workloads, Amazon EFS can support performance over 10 GB/sec and up to 500,000 IOPS.
NEW QUESTION: 3
During a password recovery of a Cisco UCS system in a cluster configuration, what happens to blade traffic?
A. There is no interruption to traffic because both fabrics stay up the whole time.
B. Traffic will continue to flow, but at a limited rate until the process is complete.
C. There is no interruption to traffic, as the fabrics go down one at a time.
D. Traffic stops flowing until the process is complete.
Answer: D