An Application for Graduate School Admission at Arizona State University

question 148

Multiple Choice

An application for graduate school admission at Arizona State University includes the following request for information: Please list all institutions attended since graduation from high school. Marie Davis, a returning student, is applying for admissions to the Masters in Architecture program. Marie attended the University of Arizona for one semester in 1976. Marie had a substance abuse problem and did not attend many of her classes. She left the University of Arizona before classes ended that semester. She did not take her final exams and earned 15 credit hours of "E" for that semester. After 8 years, the policy of the University of Arizona is to expunge the records of non-matriculating students. Marie's record was expunged in December 1994.

• A) Marie need not disclose her attendance at the University of Arizona.
• B) Marie should disclose her attendance at the University of Arizona.
• C) Since Marie did not matriculate according to the University, she did not attend the University of Arizona.
• D) None of the above

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Definitions:

Leased Assets

Assets that are used by an entity under the terms of a lease agreement, which entails periodic payments for a specified time.

Operating Leases

Lease agreements for a shorter period than the asset's useful life, where the lessee does not assume the risks and rewards of ownership.

Capital Leases

Leases that are recognized as asset purchases for accounting purposes, where the lessee gains ownership rights of the leased asset at the end of the lease term.

Lease Expense

The cost incurred from leasing an asset, including both fixed payments and variable charges over the lease term.