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Robert, a mid-level manager at Revive Corp., was falsely accused of sexual harassment. In the course of its investigation, the company questioned numerous co-workers about Robert, searched his office and computer files without his permission, and interviewed his neighbors. Although the investigation produced no evidence of Robert's guilt, he was fired since the company's president felt that the accusation was a poor reflection on the organization. If Robert sues Revive, his complaint will likely contain counts of:
U.S. GAAP
The Generally Accepted Accounting Principles in the United States, a framework of accounting standards, principles, and procedures used in the preparation of financial statements.
GAAP
A set of widely adhered to accounting norms and standards utilized for financial reporting, known as Generally Accepted Accounting Principles.
Capital Lease
A lease agreement that grants a lessee the rights similar to ownership of the asset, typically for a considerable period of the asset's life.
Operating Lease
A leasing agreement allowing the use of an asset without ownership, typically with shorter terms than a finance lease.
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