U.S. GAAP and IFRS provide criteria for distinguishing operating leases from capital leases. Which of the following is not true?
a. Under the capital, or finance, lease method, the lessor records the signing of a capital lease the same as if the lessor sold the leased asset for an installment note receivable.
b. Under the capital, or finance, lease method, the lessee recognizes interest expense on the lease liability, similar to recognizing interest expense on long-term notes or bonds.
c. Under the capital, or finance, lease method, the lessee amortizes the leased asset, similar to recognizing depreciation on buildings and equipment.
d. Under the capital, or finance, lease method, the lessor records the leased asset and the lease liability on the balance sheet at the present value of the contractual cash flows at the time of signing the lease.
e. The capital, or finance, lease method, treats leases equivalent to installment purchases or sales, where the lessee borrows funds from the lessor to purchase the asset and the lessor recognizes profit at the time of sale.
D
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The factory supplies account is adjusted for supplies used during the year by
a. debiting Factory Supplies and crediting Factory Supplies Expense; b. debiting Factory Supplies Expense and crediting Factory Supplies; c. debiting Office Supplies Expense and crediting Factory Supplies Payable; d. debiting Factory Supplies and crediting Factory Overhead; e. none of these
Discuss what employers look for during the interview process
What will be an ideal response?
Taking time to carefully analyze what the job requirements are and assessing candidates in light of those demands:
A) Increases the stress levels on Human Resources personnel B) Reduces the stress levels on Human Resources personnel by giving them a sense of preparation C) Helps to decrease the likelihood of mismatches between people and organizational environments D) Should only be exercised in the case of top level employees
Which of the following accurately describes the nonprofit competitive environment?
A. Because they do not operate for a profit, nonprofit organizations do not need to engage in environmental scanning. B. The competitive environment for nonprofit funding has decreased dramatically in recent years. C. The competitive environment for nonprofit funding has increased dramatically in recent years. D. Nonprofit marketers are not impacted by external marketing factors. E. Nonprofits do not see a decline in donations during economic recessions.