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NEW QUESTION: 1
The rule limiting the allowability of passive activity losses and credits applies to:
A. Personal service corporations.
B. Widely-held C corporations.
C. S corporations.
D. Partnerships.
Answer: A
Explanation:
Explanation
Choice "c" is correct. The rule limiting the allowability of passive activity losses and credits applies to
personal service corporations.
Choice "a" is incorrect. The passive activity limitations apply to the various partners in the partnership as
opposed to the partnership itself.
Choice "b" is incorrect. The passive activity limitations apply to the various shareholders in the S
corporation as opposed to the corporation itself.
Choice "d" is incorrect. The passive activity rules do not apply to widely-held C corporations.

NEW QUESTION: 2
Which type of formatting is responsible for the internal look of a document, such as shading, borders, numbering, and bullets?
A. Indentation
B. Decorative
C. Alignment
Explanation: Following are the two formatting types:
Structural Formatting: It is responsible for the overall structure of the document, such as alignment, indentation, and tabs.
Decorative Formatting: It is responsible for the internal look of the document, such as shading, borders, numbering, and bullets.
Answer options C and D are incorrect. These are not responsible for the internal appearance of the document because an indentation is used for indenting the first line of paragraphs and the alignment is used to set the alignment of the document.
D. Structural
Answer: B
Explanation:
Reference:
Chapter: ADVANCED WORD PROCESSING
Objective: Formatting

NEW QUESTION: 3
Identify three tax types calculated and displayed in the totals area of the invoice page.
A. Non Recoverable tax
B. Recoverable Tax
C. Self Assessed Tax
D. Withheld Tax
E. Inclusive Tax
Answer: A,B,D
Explanation:
B, C: Inclusive Tax: Shown in the Included Tax Amount column for the line. The line amount is the total of the item amount and the inclusive tax amount. The inclusive tax amount is provided for reference only. Recoverable and Non Recoverable inclusive taxes are shown in distributions under a non-tax line. To view the inclusive tax amounts as separate lines, use the Tax Lines Summary window or the Distributions window.

Reference; Oracle Payments, User's Guide, R12, Taxes on Invoices

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