A Type I error is the risk of incorrect acceptance.
Answer the following statement true (T) or false (F)
False
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Eagle's Nest sold equipment for $4,000 cash. This resulted in a $1,500 loss. What is the impact of this sale on the working capital?
a. Reduces working capital b. Increases working capital c. Has no effect on working capital d. The increases offset the decrease.
Which of the following is a true statement regarding the pension liability and pension expense recognition requirements of SFAS No. 87?
a. SFAS No. 87 presumes an explicit contract in calculating accrued pension expense. b. SFAS No. 87 uses an explicit contract view in requiring the recognition of a minimum pension liability. c. SFAS No. 87 may overestimate the pension liability by including future salary projections in the liability computation. d. SFAS No. 87 does not include future salary projections in the pension expense calculation.
Periodic interest payments on bonds are determined by multiplying the par value of the bond by the bond's contract rate.
Answer the following statement true (T) or false (F)
If a landlord leases property "to Susan as long as Sam wishes," the landlord has created a(n):
a. fee simple absolute. b. estate (tenancy) at will. c. condominium. d. estate at sufferance.