U.S. GAAP and IFRS provide for which of the following methods of accounting for long-term leases?
a. lease option method and direct lease method.
b. direct lease method and indirect lease method.
c. lease option method and indirect lease method.
d. operating lease method and capital or financing lease method.
e. primary lease method and secondary lease method.
D
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The most common remedy for breach of contract is an injunction
a. True b. False
Falls River Bank receives a check drawn on the account of Get-Rich Industries, Inc, one of the bank's customers, at 3 p.m. Friday. Hildy, the pre-senter of the check, is not one of the bank's customers. The bank uses deferred posting with a 2 p.m. cutoff hour. If it decides to dis-honor the check, it must do so by midnight A) Saturday
B) Sunday. C) Monday. D) Tuesday.
The basic duty of a trustee is to collect and reduce to cash the property in the bankruptcy estate that is not exempt.
Answer the following statement true (T) or false (F)
In all circumstances, title passes to the buyer at the time and place the seller performs by delivering the goods.
Answer the following statement true (T) or false (F)