Which Entries Are Not Needed by the Lessee for a Finance

question 93

Multiple Choice

Which entries are not needed by the lessee for a finance lease?

• A)Recording of interest expense.
• B)Recording of the lease obligation.
• C)Recording of rental expense.
• D)Recording of depreciation expense.

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Definitions:

CRM

Customer Relationship Management, a strategy for managing an organization's interactions with current and potential customers, often using data analysis about customers' history with a company to improve business relationships.

GPS

The Global Positioning System, a satellite-based navigation system that allows users to determine their precise location (latitude, longitude, and altitude) anywhere on Earth.

RFID

Radio Frequency Identification, a technology used to automatically identify and track tags attached to objects using electromagnetic fields.

SCM

Supply Chain Management, the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.