Which of the following statements about the treatment of leases on the lessor’s finan

cial statements is least accurate？

A.If the present value of the payments on a finance lease is greater than the carrying value of the asset, the lease is a sales-type lease on the books of the lessor.

B.In a direct financing lease, the lessor recognizes gross profit at the lease inception, while in a sales-type lease it does not.

C.To be a finance lease for the lessor, collectability must be reasonably certain and the lessor must have substantially completed performance.

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更多“Which of the following stateme…”相关的问题

第1题

Compared to an operating lease, a capital lease will have what effects on operating income (earnings before interest and taxes) and net income in the first year?

A.Both will be lower.

B.Both will be higher.

C.One will be lower and one will be higher.

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第2题

For the lessee, during the later years of a finance lease:

A.the debt-to-equity ratio will increase compared to the initial years.

B.a higher net profit (margin) will be obtained versus an operating lease.

C.a high asset turnover ratio will be obtained versus the operating lease.

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第3题

Nan Chen works for a firm that offers a benefit plan that guarantees her an annual payment in retirement equal to her average salary over her last 3 years of full-time employment multiplied by 3% for each of her years of full-time employment, as long as she has reached age 62.The most appropriate term for Nan’s retirement plan is a:

A.salary-based plan.

B.defined benefit plan.

C.years-of-service plan.

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第4题

Debt covenants to protect bondholders areleast likely to:

A.restrict the issuance of new debt.

B.require sinking fund redemptions.

C.prohibit bond repurchases at a premium to par.

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