Which of the Following Has NOT Been Proposed as a Possible

question 83

Multiple Choice

Which of the following has NOT been proposed as a possible cause of mass extinctions?

• A) climate change
• B) a very large earthquake
• C) massive volcanic eruptions
• D) changes in sea levels

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Definitions:

Lease Term

The fixed, non-cancellable period during which a lessee has the right to use an asset, plus any options to extend or terminate the lease if reasonably certain to be exercised.

Lease Criteria

The conditions and standards that a contract must meet for it to be classified as a lease under accounting standards.

Incremental Borrowing Rate

The interest rate a lessee would have to pay to borrow on a collateralized basis over a similar term to lease a similar asset, relevant in lease accounting.

Capital Lease

A lease agreement that has the characteristics of a purchase agreement, where the lessee assumes most of the risks and rewards of ownership.