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NEW QUESTION: 1
Income received in India in previous year is taxable in the hands of:
A. Not-resident;
B. Non ordinarily resident;
C. Resident;
D. All above.
Answer: D

NEW QUESTION: 2
Which of the following statement(s) is/are false?
I). Adjusting entries may involve recording revenues before cash is received.
II). For every accrued expense there will be a corresponding change in accrued revenue. IIIM dji iilh h
III). Most adjusting entries involve the cash account.
IV). The systematic allocation of the cost of an asset to expense during the periods of its useful life is called adjusting.
A. II, III and IV.
B. II, and IV.
C. All of them are false.
Answer: A
Explanation:
I). For example, accruing interest revenue on a note receivable will assign the interest to the current time period even though it will be collected in a subsequent time period.
II). Recording an accrued expense requires a corresponding change in an accrued liability. Recording accrued revenue requires a corresponding change in an asset account.
III). Rarely, if ever, do adjusting entries involve cash.
IV). Depreciation is the systematic allocation of the cost of an asset to expense during the periods of its useful life.

NEW QUESTION: 3
Which two functions are provided by VMkernel ports? (Choose two.)
A. VXLAN Port Configuration
B. vSphere vMotion
C. 802.1Q VLAN tagging
D. ESXi Host Management
Answer: B,D