The same four basic financial statements are prepared by both U.S. GAAP and IFRS.
Answer the following statement true (T) or false (F)
True
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A lease must be treated as a direct financing lease by the lessor when at least one of the four basic criteria is met, collectability of the minimum lease payments is reasonably assured, no uncertainties surround the amount of the unreimbursable costs, and
A) the lessor is a financial institution. B) the interest revenue element is determined in such a manner as to produce a constant rate of return on the net investment of the lease. C) the lessor does not have a dealer profit or loss. D) the lease agreement contains a provision for unguaranteed residual value.
Allpay Industries, in manufacturing its products, emits noxious fumes into the neighboring community. It also releases pollutants into a stream that runs through its property. Identify the elements of a tort in general and discuss whether Allpay's actions constitute a tort. If so, identify the tort
A constitution is fundamental law which establishes the powers of the government and the limits of that power
a. True b. False Indicate whether the statement is true or false
A data warehouse can store data derived from many sources
a. True b. False Indicate whether the statement is true or false