Wegener's Theory of Continental Drift Proposed That the Continents Plowed

question 38

True/False

Wegener's theory of continental drift proposed that the continents plowed through oceanic crust.

---

Definitions:

Incremental Borrowing Rate

The interest rate a company would have to pay if it borrows funds on the day of the lease transaction, used in lease accounting.

Lessor's Implicit Rate

The interest rate in a lease that yields the same net investment in the lease as the present value of the minimum lease payments and any unguaranteed residual value.

Ordinary Annuity

A series of equal payments made at equal intervals of time, with the payments occurring at the end of each period.

Present Value Factors

The factors used to calculate the present value of a future amount of money or stream of cash flows, given a specific discount rate.