Lessee leased some land and buildings from Lessor. There was no transfer of ownership and no bargain purchase option. If the fair value of the land is less than a certain percentage of the total fair value of the leased property at the inception of the lease, both the lessee and the lessor may consider the land and buildings as a single unit. What is that percentage?
A) 10%
B) 75%
C) 25%
D) 50%
C
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A balance sheet that displays only component percentages is a
a. trend balance sheet b. comparative balance sheet c. condensed balance sheet d. common-sized balance sheet
Tisa is a subordinate who simply acknowledges the power of her boss based merely upon his relative position in the hierarchy of authority. She seldom questions orders. Tisa exemplifies which of Hofstede’s dimensions?
A. collectivism B. high power distance C. long-term orientation D. low power distance
Grapple Market Share Corporation would like to know what information federal agencies have about Grapple's operations, so that the firm will know what its competitors may be able to learn about it. Can Grapple require the agencies to disclose whatever information they may have concerning it? If so, how should the firm make its request? What federal law applies? Is any information exempt?
What will be an ideal response?
If a company is considering the purchase of a parcel of land that was acquired by the seller for $103,000 is offered for sale at $186,000, is assessed for tax purposes at $113,000, is considered by the purchaser as easily being worth $176,000, and is purchased for $173,000, the land should be recorded in the purchaser's books at:
A. $173,000. B. $174,500. C. $186,000. D. $113,000. E. $176,000.