If You Take a Test and Score at the 70th

question 81

Multiple Choice

If you take a test and score at the 70th percentile,you have

• A) answered 70 percent of the questions correctly.
• B) scored lower than 70 percent of the people taking the test.
• C) scored higher than 70 percent of the people taking the test.
• D) scored higher than 30 percent of the people taking the test.

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Definitions:

Direct Financing Lease

A leasing arrangement where the lessor purchases an asset and leases it to the lessee, effectively acting as a financier by not transferring ownership.

Operating Lease

An agreement permitting the utilization of a property without transferring ownership rights to it.

Lessor

The party in a lease agreement that owns the asset and grants the lessee the right to use the asset in return for lease payments.

Bargain Purchase Option

A lease clause allowing the lessee to purchase the leased asset at a price significantly lower than its expected fair market value at the end of the lease term.