If a lease is classified as a capital lease because the lease agreement contains a bargain purchase option, the time period to be used by the lessee to amortize the leased property is
A. the lease term.
B. the expected economic life of the property.
C. the lease term or the expected economic life of the property, whichever is shorter.
D. the maximum amortization period for intangible assets.
Answer: B
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The independent auditor's report
a. describes which financial statements are covered by the audit b. gives the auditor's opinion regarding the fairness of the financial statements c. summarizes what the auditor did d. states that the financial statements were presented on time
Which of the following is NOT an advantage of improved productivity
a. reduced inventory risks. b. reduced cash-to-cash cycle time. c. reduced asset turnover. d. reduced inventory investments.
Using the original design, a machine requires 12 hours of setup time. By redesigning the machine, the setup time is reduced by 25 percent. The cost per setup hour is $225. Calculate the reduction in nonvalue-added cost per setup
A) $675 per setup B) $225 per setup C) $450 per setup D) $800 per setup E) $2,025
A ________ is a grant by the federal government to the inventor of an invention for the exclusive right to use, sell, or license the invention for a limited amount of time.
A. copyright B. trade secret C. patent D. trademark