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NEW QUESTION: 1

A. Option B
B. Option D
C. Option C
D. Option A
Answer: A

NEW QUESTION: 2

A. Option B
B. Option D
C. Option C
D. Option A
Answer: A
Explanation:
The Inventory adjustment or Profit/Loss journal is generally used to write-off inventory or to make standard adjustments. It is an inventory adjustment journal for items lost, broken, or justfound where item value and quantity must be updated to keep inventory accuracy. This kind of journal automatically applies financial transactions to preset accounts for profit and loss. This journal was known as Profit and Loss journal in earlier versions of AX prior to AX 2012.

NEW QUESTION: 3
All the following statements concerning a complex trust are correct EXCEPT:
A. Beneficiaries are taxed on their share of distributable net income when received by them.
B. The trustee may make distributions of principal to trust beneficiaries.
C. A complex trust may make gifts to charity.
D. Beneficiaries must receive all distributable net income in the year received by the trust.
Answer: D

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