In a lease, the lessee obtains the right to possess and use the goods for a period of time in return for consideration, but title does not pass
a. True
b. False
Indicate whether the statement is true or false
True
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Costs that differ directly with the level of production are known as ________ costs
A) fixed B) overhead C) opportunity D) target E) variable
At which of the following stages in the product/service life cycle is distribution most intense?
A) growth stage B) decline stage C) maturity stage D) introduction stage
Yelk Garage uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits$50per hourAnnual labor hours 3,350hoursAnnual materials purchases$825,000 Materials purchasing, handling, and storage$46,000 Overhead for depreciation, taxes, insurance, etc.$67,000 Target profit margin for both labor and materials 20% What should Yelk set as the direct labor rate per hour?
A. $70 per hour. B. $64 per hour. C. $50 per hour. D. $100 per hour. E. $84 per hour.
The 11 "titles" in the Sarbanes-Oxley Act of 2002 establish standards for accountability and responsibility in reporting financial information for publicly-traded corporations. Which of the following activities does the act provide that a corporation must abide by?
A. The corporation must have a committee that consists of an internal director nominated from the board to oversee the firm's audits. B. The corporation's internal auditor will render a biased opinion concerning the firm's financial statements. C. The corporation must maximize social welfare through funding of environmentally friendly activities. D. The corporation must provide additional information about the procedures used to construct and report financial statements. E. Either the firm's chief executive officer (CEO) or its chief financial officer (CFO), but not both, must certify audit reports submitted to the Securities Exchange Commission.