A lease must be accounted for as either a rental agreement or a purchase equivalent with debt financing by:
a. the lessor.
b. the lessee.
c. both the lessor and lessee.
d. none of the above
ANSWER: B
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The American workforce today is less white-collar than in the late 20th century
Indicate whether the statement is true or false
Unlike quotas, voluntary export restraints (VERs) are imposed by
A. the importing company. B. either the importing or exporting country's government; what matters is that they are voluntary. C. the importing country's government. D. the exporting country's government.
The direct write-off method
a. must be used for income tax reporting in the United States. b. is the method preferred by U.S. GAAP for financial reporting. c. prevents management of earnings by the firm. d. does not misstate the amount of accounts receivable on the balance sheet. e. none of the above.
The most commonly issued type of patent is the plant patent.
Answer the following statement true (T) or false (F)