FAS 13 Requires That for an Unqualified Audit Report,financial (Or

question 22

Multiple Choice

FAS 13 requires that for an unqualified audit report,financial (or capital) leases must be included in the balance sheet by reporting the

• A)residual value as a fixed asset.
• B)residual value as a liability.
• C)present value of future lease payments as an asset and also showing this same amount as an offsetting liability.
• D)undiscounted sum of future lease payments as an asset and as an offsetting liability.
• E)undiscounted sum of future lease payments, less the residual value, as an asset and as an offsetting liability.

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Unemployed Category

A classification for individuals who are capable of working and are actively seeking employment but are not currently employed.

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Individuals who are neither employed nor actively looking for work, excluding them from the labor force statistics.

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The proportion of the working-age population that is either employed or actively looking for work.

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The total number of people aged 16 and over who are either employed or actively seeking employment.