Answer: B. Capital leases do not transfer ownership of the asset under the lease, but operating leases often do.
Explanation:
When using Capital Leases, the lessee will record the lease as if it were their own asset and as a result will also depreciate it. The lessee will also create a long term liability on their balance sheet for the asset.
Capital leases usually also involve a transfer of ownership to the lessee at the end of the lease term. Operating Leases on the other hand do not have these features. They are more like a rental of an asset and as such are recorded as a rental expense in the books of the lessee. The ownership remains with the lessor in an Operating Lease and the asset will be returned once the lease period is over.
Answer:
C) There was no price control on gasoline at the time.
Explanation:
During the 1970s the US government established a price ceiling on gasoline, but as all price ceilings set below the equilibrium price, it results in both a deadweight loss and a supply shortage.
Since the price is "too cheap", then the quantity demanded will be more than the quantity supplied. Rising costs in gasoline production made things worst, since suppliers were constantly reducing their supply of gasoline, while consumer demand was constantly increasing.
Answer:
The answer is C.
Explanation: Drill-down capability refers to the capability necessary to achieve a goal such as a desired level of output. It enables users to get details, and details of details, of information, and it also involves the aggregation of information and features simple roll-ups to information that are complex and interrelated.
What this means is that, Drill down is a capability that takes the person who needs information from a more general view of the data to a view that is more specific and precise. For example, when there is a report that shows sales revenue by state can allow the user to select a specific state, click on it and see sales revenue by county or city within that particular selected state.
Answer:
d.$8,327
Explanation:
The computation of the amount used in the adjusting entry is shown below:
= Beginning balance of office supplies + supplies purchased - ending balance of office supplies
= $7,362 + $3,421 - $2,456
= $8,327
The adjusting entry is
Supplies expense $8,327
To Supplies A/c $8,327
(Being the supplies expense is recorded)
For recording this transaction we debited the supplies expense as it increased the expense account and credited the supplies account as it reduced the asset account
Answer:
Explanation:
a. Low Balance: You can set up your bank account for this alert on a threshold which you want to make. This alert inform you about the low balance in your bank account when it touches to the threshold you set up that may be any amount for example 50$ or 500$ or 1000$ so that you know that you shouldn't . It facilitate you to safe from the expenses like OD etc.
b. Mobile Deposit. You always receive a text message whenever you used your smartphone to deposit the check with it. It may be act as a receipt for the check submission while using with your smartphone.It also provide you a facilitation when the check is cleared and deposit received in your bank account
c. Unusual Activity. This type of alert message received while bank detects an unusual activity which could be fraud etc.For example the transactions which are made unusual and which may not be your regular activity with your account.It could also occur when your account transaction has been made outside of your normal living etc area
2.
The most important type of alert would be the Unusual Activity as it involves the risk more that other two alerts.
