Which of the following statements is true about initial direct costs?
A) Initial direct costs should always be debited against income by the lessor in the period of the inception of the lease.
B) Initial direct costs are ownership-type costs such as insurance, maintenance, and taxes.
C) Initial direct costs of an operating lease should be recorded by the lessor as a prepaid asset.
D) Initial direct costs of a sales-type lease should be expensed as incurred, and an equal amount of the unearned income should be recognized as income in the same period.
C
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________ are intangible and represent formulated thoughts or opinions, whereas ________ are intangible products that cannot be touched, weighed, or measured.
A. products; services B. ideas; products C. ideas; services D. services; products E. products; ideas
Economies are typically classified by the country's ________
A) gross domestic product (GDP) B) purchasing power parity (PPP) C) non-tariff barriers (NTBs) D) privatization E) nationalization
Answer the following statements true (T) or false (F)
Replacement cost as a measure of asset value is generally more reliable than historical cost.
What is PRIZM? How does it provide a richer description of consumer segments?
What will be an ideal response?