Capital assets acquired through capital leases by the General Fund are reported in the General Fund Balance Sheet.
Answer the following statement true (T) or false (F)
False
Under a capital lease, the present value of the rental and other minimum lease payments or the fair value of the leased property and the related liability are recorded in the government-wide statements and proprietary funds. Governmental funds, including the general fund, record an expenditure for the present value of the payments and proprietary funds record and capital asset and related liability when the lease is signed. Under an operating lease, the government does not record the leased asset or a liability for the rental payments. Instead, payments are recorded by the governmental funds as current expenditures.
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A slack variable:
A) is the amount by which the left side of a ? constraint is larger than the right side. B) is the amount by which the left side of a ? constraint is smaller than the right side. C) is the difference between the left and right side of a constraint. D) exists for each variable in a linear programming problem.
Which type of contract is used when agents act on behalf of a principal and the dealer's margin is set to be the same as the supply chain margin, and the dealer exerts the right amount of effort?
A) Buyback or returns contract B) Revenue-sharing contract C) Quantity flexibility contract D) Two-part tariffs
Scuba manufacturer designs and sells the best scuba gear on the market. All industry and governmental standards are met, and there is no better technologically feasible design than that used by the manufacturer. There had been no previous problems with the gear, but on one unfortunate day, the breathing apparatus on a unit malfunctioned resulting in a diver needing medical care. Assuming
recognition in the jurisdiction involved, which of the following is the best defense to a lawsuit alleging a design defect brought by the diver? a. Comparative fault b. Assumption of the risk c. State-of-the-art d. Ultrahazardous activity
You are given the following information about activity A:
Normal time = 9 weeks Crash time = 7 weeks Normal cost = $20,000 Crash cost = $30,000 What will it cost to complete activity A in 8 weeks? A) less than or equal to $24,000 B) greater than $24,000 but less than or equal to $27,000 C) greater than $27,000 but less than or equal to $30,000 D) greater than $30,000