Chapter 10 of Your Textbook Identifies Three Elements of Competencies

question 10

Multiple Choice

Chapter 10 of your textbook identifies three elements of competencies in a community of practice.These are a sense of joint enterprise,relationships of mutuality,and a shared repertoire.The need for a person to be perceived as a trusted member of the community and that he can trust members of his community of practice through interactions with one another is an example of ______.

• A)sense of joint enterprise
• B)relationships of mutuality
• C)shared repertoire
• D)all of these

Understand the lessor's accounting treatments and recognition of profit for different types of leases.

Grasp the intended changes and developments in lease accounting standards.

Understand the distinction between capital and operating leases from both the lessee’s and lessor’s perspectives.

Know how minimum lease payments are constituted and the inclusion of residual value guarantees.

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Definitions:

Leverage

The use of various financial instruments or borrowed capital, such as debt, to increase the potential return of an investment.

Activity

Actions taken or work performed, typically aimed at achieving certain goals or objectives.

Profitability

The ability of a business to earn a profit, which is a financial gain that results when the amount of revenue gained from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Asset Management

The practice of strategically managing company or individual assets to increase value and achieve financial objectives.