Andrea decides to start her own coffee shop. After finding a supplier of coffee beans and hiring baristas to brew the coffee, Andrea feels she is ready to go. She opens up her shop with much fanfare from the local community. Andrea is acting as a
A. direct marketer.
B. retailer.
C. wholesaler.
D. nonprofit.
E. food broker.
Answer: B
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Scher Co leased a machine on December 31 . 2014 . Annual payments under the lease are $110,000 (which includes $10,000 annual executory costs) and are due on December 31 each year, for a ten-year period. The first payment was made on December 31 . 2014, and the second payment was made on December 31 . 2015 . According to the agreement, the lease payments are discounted at 1 . percent over the
lease term. Assume the present value of minimum lease payments at the inception of the lease and before the first annual payment was $615,000 and Scher appropriately classified the lease as a capital lease. What is the lease liability Scher should report in its December 31 . 2015, balance sheet? a. $466,500 b. $515,000 c. $534,150 d. $576,500
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Indicate whether the statement is true or false
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