On January 1, 2020, Marlene Corp

question 35

Multiple Choice

On January 1, 2020, Marlene Corp. enters into an agreement with Dietrich Rentals Inc. to lease a machine from them. Both corporations adhere to ASPE. The following data relate to the agreement:
1) The term of the non-cancellable lease is three years with no renewal option. Payments of $ 271,622 are due on December 31 of each year.
2) The fair value of the machine on January 1, 2020, is $ 700,640. The machine has a remaining economic life of 10 years, with no residual value. The machine reverts to the lessor upon the termination of the lease.
3) Marlene depreciates all its machinery on a straight-line basis.
4) Marlene's incremental borrowing rate is 10%. Marlene does not have knowledge of the 8% implicit rate used by Dietrich.
5) Immediately after signing the lease, Dietrich discovers that Marlene is the defendant in a lawsuit that is sufficiently material to make collectibility of future lease payments doubtful.
Assume the present value of the lease payments is $ 700,000 at January 1, 2020.
If Marlene accounts for this lease as a finance lease, what is the amount of the reduction in the lease obligation in calendar 2021? (Round to the nearest dollar.)

• A) $ 201,622
• B) $ 215,622
• C) $ 221,784
• D) $ 232,873

Identify the differences between positive reinforcement, negative reinforcement, aversive punishment, and response cost punishment.

Comprehend the process and effect of operant extinction and its similarities to other forms of behavioral modification.

Grasp the principles of discriminative stimuli and stimulus control in operant conditioning.

Understand the concepts and applications of shaping, chaining, and successive approximations in behavioral training.

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Definitions:

Lies

False statements made with the deliberate intention to deceive; an intentional untruth.

Prima Facie Duty

An obligation that appears to be binding upon first view, but may be overridden by stronger moral considerations.

Keep Promises

The act of fulfilling a commitment or assurance one has made.

Absolute Moral Rules

Ethical principles that are considered universally applicable and unwavering under all circumstances.