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Leases & Pensions

Monday, December 15, 2008. 1 Major reasons why a company may become involved in leasing to other companies is (are). D all of these. 2 Which of the following is an advantage of leasing? D All of these. 3 Which of the following best describes current practice in accounting for leases? B Leases similar to instalment purchases are capitalized. C a lease reflects the purchase or sale of a quantifiable right to the use of property. 5 The methods of accounting for a lease by the lessee are. D any of these.

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Monday, December 15, 2008. 1 Major reasons why a company may become involved in leasing to other companies is (are). D all of these. 2 Which of the following is an advantage of leasing? D All of these. 3 Which of the following best describes current practice in accounting for leases? B Leases similar to instalment purchases are capitalized. C a lease reflects the purchase or sale of a quantifiable right to the use of property. 5 The methods of accounting for a lease by the lessee are. D any of these.
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Leases & Pensions | interacct.blogspot.com Reviews

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Monday, December 15, 2008. 1 Major reasons why a company may become involved in leasing to other companies is (are). D all of these. 2 Which of the following is an advantage of leasing? D All of these. 3 Which of the following best describes current practice in accounting for leases? B Leases similar to instalment purchases are capitalized. C a lease reflects the purchase or sale of a quantifiable right to the use of property. 5 The methods of accounting for a lease by the lessee are. D any of these.

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Leases & Pensions

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Monday, December 15, 2008. And add to PV of PMT. And add to MLP if GUARANTEED. If PMT includes EXEC. Deduct from PMT if lessor resp. To record asset DR, use lower of FMV. If no BPO or transfer of ownership, amortize over term. Else, amortize over life. If RV GUARANTEED, subtract FV of RV from MLP b4 amort. Assume lessor responsible unless stated. Dr property tax exp. If RV unguaranteed, subtract PV of RV from COGS and sales rev. PMT amount x #of pmts FV of RV(guarntd or not). SALES REV (FMV-PV UNG RV).

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Leases & Pensions: Pensions MC

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Monday, December 15, 2008. 1 In determining the present value of the prospective benefits (often referred to as the projected benefit obligation), the following are considered by the actuary:. D all of these factors. 2 In a defined benefit plan, the process of funding refers to. C making the periodic contributions to a funding agency to ensure that funds are available to meet retirees' claims. 3 In all pension plans, the accounting problems include all the following except. D all of these. 11 The calcula...

3

Leases & Pensions: Leases MC

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Monday, December 15, 2008. 1 Major reasons why a company may become involved in leasing to other companies is (are). D all of these. 2 Which of the following is an advantage of leasing? D All of these. 3 Which of the following best describes current practice in accounting for leases? B Leases similar to instalment purchases are capitalized. C a lease reflects the purchase or sale of a quantifiable right to the use of property. 5 The methods of accounting for a lease by the lessee are. D any of these.

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Leases & Pensions

Monday, December 15, 2008. 1 Major reasons why a company may become involved in leasing to other companies is (are). D all of these. 2 Which of the following is an advantage of leasing? D All of these. 3 Which of the following best describes current practice in accounting for leases? B Leases similar to instalment purchases are capitalized. C a lease reflects the purchase or sale of a quantifiable right to the use of property. 5 The methods of accounting for a lease by the lessee are. D any of these.

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Shareholder's Equity

Monday, December 15, 2008. 1 The residual interest in a corporation belongs to the. 2 The pre-emptive right of a common shareholder is the right to. B share proportionately in any new issues of shares of the same class. 3 The pre-emptive right enables a shareholder to. A share proportionately in any new issues of shares in the same class. 4 The liability of shareholders is. D limited to their property or service invested in the corporation. 6 Dividends on cumulative preferred shares. D all of these.

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Monday, December 15, 2008. D may be exchanged for equity securities. 2 The conversion of bonds is most commonly recorded by the. D book value method. 3 Gains or losses on the early extinguishment of convertible debt should be considered an. 4 The conversion of preferred shares may be recorded by the. B book value method. D premium on bonds payable. 6 A convertible debt security is recorded as a debt instrument. C and an equity component. 7 Shares warrants outstanding should be classified as. 13 An execut...

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Monday, December 15, 2008. 1 A voluntary change in accounting policy must result in information that is. C more relevant, but as reliable. 2 Accounting changes are often made and the monetary impact is reflected in the financial statements of a company even though, in theory, this may be a violation of the accounting concept of. 3 Which of the following is not a change in accounting policy? B Using a different method of amortization for new plant assets. 7 Accounting for a retroactive change requires.