The American Industrial Revolution Did Not Make Real Progress Until

question 59

Multiple Choice

The American Industrial Revolution did not make real progress until _____.

• A)a railroad system was built,providing fast,economical transportation
• B)a good relationship was formed with England
• C)an introduction of the automobile occurred
• D)a reliable system of telephonic communication was established

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Definitions:

Current Ratio

A measure of liquidity calculated by dividing a company's current assets by its current liabilities, indicating how well it can cover its short-term obligations.

Capital Lease

A lease agreement that transfers substantially all the risks and rewards of ownership of the asset to the lessee, and is recorded as an asset and liability on the balance sheet.

GAAP

Generally Accepted Accounting Principles, a framework of accounting standards, rules, and procedures used in the compilation of financial statements in the US.

Lease Capitalization Criteria

The standards or requirements used to determine whether a lease should be recorded as an asset and liability on the balance sheet.