Answer:
B
Explanation:
In a lease that is recorded as a finance- sales type lease by the lessor, interest revenue should be recognized over the period of the lease using the effective interest method
The effective interest method uses a constant rate of interest applied to any outstanding lease obligation. Though the interest rate being constant, the interest
expense will be different each period because the obligation outstanding changes each period, so this should be recognized when recorded
Answer:
Make arrangements or preparations for (an event or activity)
Answer:
1. Inventory account will be affected and assertions of accuracy and valuation will be violated.
2. Assets are overstated and assertion classification is violated.
3. Liability is understated and assertions of accuracy is violated.
4. No impact.
Explanation:
Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.
Wait is this a question? But yes, this is true.:-)
