The Alison 1000 Series Transmissions Has Two Filters

question 83

Multiple Choice

The Alison 1000 series transmissions has two filters. Technician A says that the outside filter should be replaced at each service. Technician B says that the internal transmission filter only needs to be replaced at the first service. Who is correct?

• A) Technician A
• B) Technician B
• C) Both technicians
• D) Neither technician

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Definitions:

IAS 17

An International Accounting Standard that prescribes the accounting policies and disclosures applicable to leases for both lessees and lessors.

Capitalized Lease

A lease treated as an asset purchase for accounting purposes, with the asset being capitalized on the balance sheet.

Financial Statements

These are records that provide an overview of a company's financial condition in both short and long term. They include the balance sheet, income statement, and cash flow statement.

Lease Alternative

This term could refer to the option of leasing as opposed to purchasing an asset, often evaluated to determine the most cost-effective method of acquiring the asset.