The asset leased under an operating lease requires the lessee to record depreciation expense
a. True
b. False
Indicate whether the statement is true or false
False
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Which statement is correct about defining the target population?
A) Imprecise definition of the target population will result in research that is ineffective at best and misleading at worst. B) Defining the target population involves translating the problem definition into a precise statement of who should and should not be included in the sample. C) The target population should be defined in terms of elements, sampling units, extent, and time. D) All of the above statements are true.
If a company has current assets of $15,000 and current liabilities of $9,500, its current ratio is 1.6
Answer the following statement true (T) or false (F)
Firms initially record property, plant, and equipment, sometimes referred to as fixed assets, at acquisition cost, the cash paid or the fair value of other consideration given in exchange for the asset. Which of the following is/are true?
a. Acquisition cost includes all costs necessary to prepare the asset for its intended use. b. Firms capitalize into the asset's carrying amount subsequent expenditures that extend the service life or increase the benefits of a fixed asset beyond those initially anticipated. c. Buildings and equipment have a finite life, so firms must depreciate their acquisition cost less estimated salvage over the expected service life. d. Firms may use a straight-line method or accelerated depreciation methods. e. all of the above
Which of the following is not an investing activity?
A) Purchase of investments for cash B) Purchase of equipment for cash C) Sale of merchandise for cash D) Sale of land for cash