In Determining If the Risk and Rewards of Ownership Have

question 18

Multiple Choice

In determining if the risk and rewards of ownership have been transferred,AASB 117 states the following would indicate a finance lease is in effect:

• A) Ownership of the assets transfers at the end of the lease term for a variable payment equal to its then fair value.
• B) Contingent rents exist.
• C) The lease is non-cancellable by the lessor.
• D) All of the given answers are correct.

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Definitions:

Factorial Experiment

An experimental setup that investigates the effects of multiple factors by varying them simultaneously and systematically, to analyze their interactions and single effects.

Two-way Factor ANOVA

A statistical test used to determine the effect of two nominal predictor variables on a continuous outcome variable.

Interact

To act in such a way as to have an effect on another; in statistical terms, it often refers to variables that affect each other’s outcomes.

Two-way ANOVA

An analytical method used to evaluate how two categorical variables influence a continuous dependent variable.