Answer : Leases similar to installment purchases are capitalized
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Leases which are similar to installment purchases are capitalized as usually these leases usually takes the shape of the transaction in which an assets is purchased but through and lease period usually covers the substantial period of the life of the assets and it is more like finance lease hence capitalized
so our answer is
Leases similar to installment purchases are capitalized
Which of the following best describes current practice in accounting for leases? O Leases are not...
Which of the following equations best describes the accounting identity? 0 Long-term assets-short-term assets + Equity. O Assets = Liabilities + Equity. O Total claims Liabilities + Equity 0 Short-term assets = Cash + Receivables. 0 Long-term liabilities-Notes + Bonds.
Which of the following best describes the term "current assets"? a. Assets expected to be converted into cash within one year or one operating cycle, whichever is longer. b. The amount of claim that the owners have in the business in the current year. c. The cumulative profits earned by a business less any dividends distributed in the current period. d. The amount of total profits earned by a business since it began operations plus all other resources.
QUESTION 13 Which of the following best describes acclimation? o long-term physiological adjustment to an abrupt change in environmental conditions short-term metabolic and long-term physiological adjustment to environmental changes long-term metabolic and short-term physiological adjustment to environmental changes temporal metabolic or physiological adjustment to changes in environmental conditions
which terms best describes the practice of nursing?
Which of the following statements best describes managerial accounting? A. Managerial accounting focuses on outside investors and lenders. B. Managerial accounting focuses on information for internal decision making. C. Managerial accounting provides information for the public. D. Managerial accounting provides information for taxing authorities.
Which of the following best describes character displacement? o A Any trait associated with resource partitioning B Any evolutionary change of a trait that allows a species to utilize more resources o c Evolutionary change of a trait that allows similar species to utilize different resources when living together to minimize competition O D All of the above
Identify which accounting principle or assumption best describes each of the following practices: 1. Stark Company's accounting system maintains the equipment account as if the business will continue operating and not close. 2. Mike Derr owns both Salling Passions and Dockside Digs. In preparing financial statements for Dockside Digs, Mike makes sure that the expense transactions of Sailing Passions are kept separate from Dockside Digs's transactions and financial statements. 3. If $51 thousand cash is paid to buy land, the...
35. Which of the following best describes performance measures? a. They are derived from practice guidelines and are designed to measure systems of care b. They are a process by which an organization monitors important aspects of its programs, systems, and processes. c. They are forward-looking processes used to set goals and regularly check progress toward achieving those goals. d. All of the above 36. Good performance measures incorporate which of the following? a. Relevance b. Accuracy c. Feasibility d....
35. Which of the following best describes performance measures? a. They are derived from practice guidelines and are designed to measure systems of care b. They are a process by which an organization monitors important aspects of its programs, systems, and processes. c. They are forward-looking processes used to set goals and regularly check progress toward achieving those goals. d. All of the above
which of the following is the best definition of a source
document in the accounting process
Which of the following is the best definition of a source document in the accounting process? O A source document is used to determine who hired an employee that is assigned the duty of entering transactions into the accounting process. O A source document shows all the information about the legal rights a company has in relation to when it should pay a bill...