A. end; payments
B. beginning; purchases
C. beginning; payments
D. end; purchases
Answer:
C. beginning; payments
Explanation:
The adjusted balance method is a method that is usually used by banks in which they calculate the interest at the end of the period by taking the initial balance adding all the adjustments made to the account like a payment and then they calculate the interest using the end balance. According to this, the answer is that adjusted balance method calculates interest using the balance at the beginning of a billing cycle, adjusted by any payments made during the period.
Answer:
Foley will probably win because he didn't do anything wrong, and he had an implied employment contract with Interactive that stated that he could be fired only after a seven step pre-termination procedure. The handbook guidelines that were given to Foley represent the implied contract, and management assured him that that his performance was adequate.
Answer : Serial Entrepreneur
A serial entrepreneur, like any other entrepreneur, comes up with a new idea and starts a business based on it.
Once the business is established, they delegate the running of this business to someone else and move on to building another new business on another new idea.
As they move on to newer ventures, they may also sell their old ventures. When such ventures are sold, the entrepreneur often makes a windfall gain.
Answer: B) counseling
Explanation:
Counseling is the process of rendering professional advice and guidance to individuals through personal interviews, testing interests and aptitudes by utilizing psychological methods. In the case above the supervisor is trying to counsel Xanat due to her deteriorating performance, by assessing her and suggesting possible solutions to her condition.
Answer:
C. The lessee is not expected to exercise the option to purchase the leased asset.
Explanation:
On January 1, Year 5, Company A leased a customized forklift to Company B (lessee) for a lease term of 10 years. The lease includes an option for the lessee to purchase the leased asset at the end of the lease term. The expected residual value of the forklift at the end of Year 10 is minimal and is not guaranteed. The present value (PV) of the sum of the lease payments is $70,000. Company A has classified the lease as a sales-type lease. Which of the following is not a criterion for the lessor to classify the lease as a sales-type lease?
A. The forklift is expected to have no alternative use to Company A at the end of the lease term.
B. The forklift’s remaining economic life is 11 years on the lease commencement date.
C. The lessee is not expected to exercise the option to purchase the leased asset.
D. The fair value of the forklift at the time of lease commencement is $75,000
A lease in a contract agreement in which the lessee pay the lessor after the use of an item such building, equipment, vehicle, etc. It is a contractual agreement between two people.
Sales type lease is a lease in which the price of the leased property at the beginning is different from the carrying amount and ownership is given back to the lessor at the end of the lease period. This type of lease exists when (a) the lease is not classified as operating and (b) the lessor gets both interest income and a profit (or loss) on the transaction. Therefore, the fair market value of the leased asset is more than the lessor’s cost to purchase the asset.
