Jack, a landlord, sells his apartment house to Bob, who knows that each of the four apartments is rented. May Bob tell the tenants to vacate and install his own tenants?
a. Yes, since he is now the owner.
b. Yes, the leases terminate when Jack's ownership ends.
c. No, he must wait until their leases expire.
d. No, they may stay as long as they wish.
c
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Many believe that the accounting profession should shift away from financial statement reporting toward providing information that assists decision-making
Indicate whether the statement is true or false
What spans a large geographic area, such as a state, province, or country?
A. Metropolitan area network B. Wide area network C. Local area network D. Peer-to-peer network
Timothy volunteers to take on a heavy research assignment for his group project, even though he likely won’t be able to complete the assignment in time. No one else was willing to take the assignment, and Timothy felt that the needs of the group are far more important than his own needs. What conflict-handling style is Timothy employing?
a. obliging b. dominating c. compromising d. integrating
Which of the following is true regarding the deferral of sale profits on a sale-leaseback under IAS 17, "Accounting for Leases?
a. Any profit on a sale-leaseback resulting in an operating lease is deferred and recognized over the subsequent lease period, whereas any loss is recognized immediately. b. Both profits and losses on a sale followed by an operating lease leaseback are recognized immediately if the transaction is established at fair value. c. Profit from the sale should be deferred and amortized in proportion to the amortization of the leased asset if a capital lease results from the sale-leaseback. d. Profit from the sale should be amortized in proportion to the rental payments it an operating lease results from the sale-leaseback.