At the Inception of a Capital Lease for Equipment the Journal

question 47

Multiple Choice

At the inception of a capital lease for equipment the journal entry required in the capital projects fund will include which of the following?

• A) A debit to Equipment.
• B) A debit to Capital Lease Expense.
• C) A credit to Obligations under Capital Leases.
• D) A credit to Other Financing Uses-Capital Leases.

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Definitions:

Emergency Response Protocols

Predefined, structured procedures designed to be implemented in case of urgent or crisis situations to protect lives and property.

High Chance

A term implying a significant possibility or likelihood of an event occurring.

High Impact

Activities, initiatives, or methods that produce significant, often positive, results or changes.

Emergency Response Protocols

These are structured, pre-planned procedures and guidelines designed to be executed in reaction to emergency situations to mitigate harm and ensure safety.