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NEW QUESTION: 1
Adams owns a second residence that is used for both personal and rental purposes. During 2001, Adams used the second residence for 50 days and rented the residence for 200 days. Which of the following statements is correct?
A. Depreciation may not be deducted on the property under any circumstances.
B. All mortgage interest and taxes on the property will be deducted to determine the property's net income or loss.
C. A rental loss may be deducted if rental-related expenses exceed rental income.
D. Utilities and maintenance on the property must be divided between personal and rental use.
Answer: D
Explanation:
Explanation
Choice "c" is correct. Because the second property was personally used more than 14 days, any net loss from the rental of the property will be disallowed.
All related expenses must be prorated between the personal use portion and the rental activity portion.
Prorated depreciation is permitted for the rental activity.
NEW QUESTION: 2
Which of the following should a technician do NEXT after reporting an incident?
A. Go back to work
B. Document the incident
C. Confiscate the PC
D. Delete the content
Answer: B
Explanation:
When the incident is reported, the best thing to do afterward is to document the details of the incident especially in the hardware case. The documenting of the incident will help determine the cause of the problem and the circumstances in which the problem occurred.
NEW QUESTION: 3
A. Option C
B. Option D
C. Option B
D. Option A
Answer: B
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