Which of the following phrases explains the term lease?
A) an interest in real property given to a lender as security for the repayment of a loan
B) an interest in real property for a person's lifetime
C) the transfer of the right to use real property for a specified period of time
D) a right to use someone else's land without owning or hiring it
C
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Income from operations is the difference between gross margin and operating expenses
Indicate whether the statement is true or false
A unique characteristic of retailing is _____
a. the high effect of the business cycle on sales b. high foreign competition c. low average sales d. saturation of retail facilities
Consider a work center with a demand rate of 50 parts per hour and using a container that can hold 12 parts. It is estimated that the container takes 1 hour to cycle through the work cell. Assume a safety stock level of 10 percent. What is the value of T for this system?
a. 50 b. 12 c. 1 d. 0.1
Difabio Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers), namely student and course. The school uses the following data in its budgeting: Fixed elementper monthVariable elementper studentVariable element per courseRevenue$0 $421 $0 Faculty wages$0 $0 $2,800 Course supplies$0 $62 $36 Administrative expenses$31,600 $21 $32 In June, the school budgeted for 1,070 students and 90 courses. The actual activity for the month was 1,370 students and 95 courses.Required:Prepare the school's flexible budget for the actual level of activity in June.
What will be an ideal response?