Case 4 You Visit Your School's Computer Lab to Work

question 59

Multiple Choice

Case 4 You visit your school's computer lab to work on some class assignments. When you get there, you notice the computers are all Macs, but you work on a PC at home. What operating system could you NOT be working on at home?

• A) Windows XP Home Edition
• B) Windows Me
• C) Windows CE
• D) Windows XP Media Center Edition

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Definitions:

Deferred Income Tax

Income tax obligations that a company has accrued but not yet paid, appearing on the balance sheet as a liability.

Amortizable Capital Assets

Long-term assets whose cost is gradually expensed over their useful life, such as buildings and equipment.

Temporary Differences

Differences between the accounting value and tax value of assets and liabilities, resulting in deferred tax assets or liabilities.

Deferred Income Taxes

Taxes that are assessed or paid on income that is recognized in one period for financial reporting purposes but in a different period for tax purposes.