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NEW QUESTION: 1
You are the Microsoft Dynamics AX administrator for an organization.
The organization has a maximum cash credit limit of $20,000. If a payment is issued for more than the stated cash
credit limit, the payment is rejected and the organization is fined.
You need to ensure that payments do NOT exceed the cash credit limit.
Which two actions should you perform? Each correct answer presents part of the solution.
A. On the Cash and bank management parameters form, set the Bank credit limit tolerance option to Error.
B. On the Bank accounts form, enter the Credit limit value.
C. On the Bank accounts form, set the Bank account status option to Inactive for all transactions.
D. On the Bank accounts form, enter the Active from and Active to dates.
Answer: A,B
Explanation:
A: Field: Credit limit
Enter the credit limit for the bank. You must enter a negative amount in this field. You are notified if the bank balance
exceeds this limit when you post a payment journal.
Reference: Bank accounts (form) [AX 2012]
D: Field: Bank credit limit tolerance
Select how to notify the user when a payment journal that is posted causes a balance to exceed the credit limit. Select
from the following options:
* None - Do not consider the credit limit.
* Warning - Display a warning when the credit limit is exceeded, but continue the process.
* Error - Display an error when the credit limit is exceeded, and stop the process.
Reference: Cash and bank management parameters (form) [AX 2012]

NEW QUESTION: 2

A. Disable circular logging.
B. Mount DB1.
C. Change the deleted item retention period.
D. Enable circular logging.
E. Dismount DB1.
Answer: B,D,E

NEW QUESTION: 3
Patty Planner has been contributing a sum to a non-qualified variable annuity each month for the last
fifteen years in order to reach her ultimate goal of an early retirement. Now that she has turned 60, Patty
has decided to retire. Her annuity is now worth $69,000, and her total contributions were $36,000.Patty
decides to withdraw $15,000 of her accumulation as a lump sum to fund an extended vacation to Europe
that she has always promised herself. Which of the following statements applies to Patty's situation?
A. Her $15,000 withdrawal will be taxed as ordinary income to her at her marginal tax rate.
B. Her $15,000 withdrawal will be taxed as capital gain income, at a preferential rate, but she will also
have to pay a 10% penalty for withdrawing the funds prior to turning 62.
C. Her $15,000 withdrawal will be taxable as ordinary income to her at her marginal tax rate, and she will
also be subject to a 10% penalty for early withdrawal.
D. Her $15,000 withdrawal is not taxable since it is less than the amount of her total contributions to the
plan, but she will be subject to a 10% penalty for early withdrawal.
Answer: A
Explanation:
If 60-year-old Patty has contributed $36,000 to the annuity that is now worth $69,000 and
decides to withdraw $15,000 as a lump sum, the $15,000 will be taxed as ordinary income. She will not be
subject to any penalties for early withdrawals since she is over 59 1/2 years old, but the IRS uses
LIFO-last-in/first-out-accounting in determining whether the income is taxable, so the $15,000 withdrawal
will be considered to come from earnings, which have grown tax-free and are, therefore, now taxable.