A lessee acquires whatever title the lessor has to the goods.
Answer the following statement true (T) or false (F)
False
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If an asset has not been fully depreciated, depreciation should be recorded prior to removing it from service and the accounting records
Indicate whether the statement is true or false
All of the following statements about business income insurance are true EXCEPT
A) Business income is defined as total sales that would have been made if the loss had not occurred. B) Payroll is considered a continuing normal operating expense. C) Business income insurance does not cover the physical damage caused by a peril which created the interruption in business. D) The business income coverage form can be purchased with a coinsurance requirement.
A limited liability company as an entity is not liable for the wrongful acts or omissions of its members.
Answer the following statement true (T) or false (F)
The FDA had approved a new diet drug for the market. The agency pulled the approval and the drug off the market because a staff member said, "This drug didn't work for me." The manufacturer of the drug could challenge the FDA action: A) as arbitrary and capricious
B) on the basis of a failure to follow ADA procedures. C) lack of substantial evidence. D) Any of the above