Answer:
The answer is option A) operating lease, died financing lease sales - type lease
Explanation:
If the lessor meets any one of the five Group I criteria, then the lessor classifies the lease as <u>an operating lease</u> If the lessor meets both of the Group II criteria, but none of the Group I criteria, then the lessor classifies the lease <u>as a died financing lease </u>If the transaction does not meet either the Group I or Group II criteria, then the lessor classifies the lease as <u>a sales - type lease.</u>
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Answer: Statement D
Explanation: In the management by exception, only those issues that can bring major differences in result are brought to the attention of management. Management by exception involves analyzing of financial and operational results of an entity.
Thus, from the above we can conclude that management by exception means investigating the material differences whether they are favorable or unfavorable.
The answer to this question is "10, 000 years innovation". Hence, to complete the sentence we have it "Innovations in the field of agriculture have increased and keep increasing the food supply. This situation has allowed the human populations to grow approximately 10,000 years innovations by the end of the agriculture period".
Answer:
a. Book value
b. Materiality
c. Matching principle
d. Unrecorded revenue
e. Adjusting entries
f. Unearned revenue
g. Prepaid expenses
h. Accumulated depreciation
Explanation:
The assets are recorded at cost and then depreciated over their useful lives . The net balance of an asset being the cost less its accumulated depreciation is its Net Book Value.
Materiality is the concept whereby any accounting principle can be departed from if it is of a small amount
All expenses incurred during a period to earn revenues is known as matching principle.
Any revenue earned but not recorded or billed is known as unrecorded revenue.
Adjusting entries are recorded at period end to record revenues and expenses under accrual method.
Advances received for services to be provided after the period end is recorded as unearned revenue.
Amounts paid in advance for services/ benefits to be received in the future are known as prepaid expenses
Assets cost are allocated over its estimated useful life is known as accumulated depreciation.
