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NEW QUESTION: 1
At January 1, Year 1, a sole proprietorship's assets totaled U`? $710,900, and its liabilities amounted to US $120,000_ During Year 1, owner investments amounted to US $72,000, and owner withdrawals totaled US $75,000. At December 31, Year 1, assets totaled US $270,000 and liabilities amounted to US $171,000. The amount of profit for Year 1 was:
A. US $6,000
B. US $0
C. US $12,000
D. US $9,000
Answer: C
Explanation:
Profit or loss may be d +ivy1 using the basis a canting equation assets = liabilities +equity). Equity at 1/1/Yr 1 was US $90,000$210,000 of liabilities). Equity at 12/31/Yr 1 was US $99,000$270,000 - $171,000). Because owner transactions decreased assets by US $3,000$72,000 Investment- $75,000 withdrawals), profit must have been US $12,000 [$99,000 -$90,000 - $3,000)].

NEW QUESTION: 2
An Exchange folder restored using Granular Restore Option (GRO) is saved on the disk as which kind of file?
A. V2i
B. EIF
C. MSG
D. PST
Answer: D

NEW QUESTION: 3
Which statement is true about VirtualCenter and License Server?
A. The License Server may be installed on a separate machine, but VirtualCenter requires aserver-based license.
B. The License Server must be installed during VirtualCenter installation and mustalways run on the same server as VirtualCenter.
C. VirtualCenter cannot be installed without an operational License Server online.
D. If deploying a License Server is not desirable, VirtualCenter can be installed using ahost-based license file.
Answer: A
Explanation:
PerVC User Manual.-
VirtualCenter server- Requires one license for each VirtualCenter Server.
VirtualCenter Server licenses are perpetual. A license key is requested the first time VirtualCenter client connects to the VirtualCenter server, not during installation.

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