The FASB Defines Financial Lease as Leases That Meet the Following

question 4

Multiple Choice

The FASB defines financial lease as leases that meet the following:
I.The lease agreement transfers ownership to the lessee before the lease expires.
II.The lessee can purchase the asset for a bargain price when the lease expires.
III.The lease lasts for at least 75% of the asset's estimated economic life.
IV.The present value of the lease payments is at least 90% of the asset's value

• A)I or II
• B)I or II or III
• C)I or II or III or IV
• D)II or III or IV

Recognize the influence of social norms and their enforcement in structured group settings.

Identify the factors leading to the formation of crowds and the behavioral categorizations within crowds.

Comprehend theories explaining crowd behaviors and the dynamics of mob actions.

Analyze the psychological and sociological aspects of panic and rumors in collective behavior.

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Definitions:

Selling and Administrative Expense

Costs related to the selling of products and the administration of a business, not including production costs.

Variable Expense

Expenses that change in proportion to the activity of a business.

Fixed Expense

Costs that do not vary with the level of production or sales, such as rent or salaries.

Variable Overhead Rate

The rate at which variable overhead costs are allocated to products based on an activity base, such as machine-hours or direct labor-hours, reflecting changes in cost with production volume.