Marc, a Money Making Banker, Is Having a Great Time

question 91

Multiple Choice

Marc, a money making banker, is having a great time with his smartphone. He just enabled a feature that allows Internet connectivity to his tablet when a wireless network is not available using any other method. What feature did Marc just enable?

• A) WiMAX
• B) QoS
• C) Wireless broadband
• D) Wireless hotspot

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Definitions:

Operating Lease

A lease agreement allowing one to use an asset without ownership, typically with shorter terms than a finance lease.

Capital Lease

A lease agreement in which the lessee essentially acquires all the benefits and risks of ownership of the asset, even though legal title may not be transferred.

Lease Inception

The beginning date of a lease agreement when all terms and conditions are established and the lease becomes effective.

Constructive Capitalization

An accounting method that records a leasing agreement as a purchase and leaseback transaction for financial reporting purposes.