Assets In Accounting » Week 3 » Assets In Accounting

Q: A kind of lease in which ownership of the asset is intended at the end of the lease is called:

Correct! A capital lease is intended to transfer ownership of the asset at the end of the lease.

Q: True or False: A capital lease will show up on the profit and loss statement.

Correct! A capital lease will actually show up on the balance sheet.

Q: In a lease agreement, the party that is paying rent is referred to as the:

Correct! The renting party is called the lessee and the part that owns the asset is referred to as the lessor.

Practice More Quizzes:

Assets in Accounting

Categorize These Assets

2 Questions Week 1

Reading Quiz

2 Questions Week 1

Assets Practice Quiz

11 Questions Week 1

Sales Practice Quiz

6 Questions Week 1

Promissory Notes Practice Quiz

3 Questions Week 1

Accounting Concepts and Measurement Assessment

20 Questions Week 1

Merchandise Inventory Quiz

3 Questions Week 2

Costing Methods Quiz

3 Questions Week 2

Inventory Errors Quiz

3 Questions Week 2

Inventory Accounting Methods Assessment

20 Questions Week 2

PP&E Practice Quiz

5 Questions Week 3

Depreciation Quiz

5 Questions Week 3

Assets in Accounting

3 Questions Week 3

Property and Equipment Assessment

20 Questions Week 3

Cash, accounts receivable, and cash receipts quiz

4 Questions Week 4

PP&E Concepts Quiz

4 Questions Week 4

Assets in Accounting Case Study Quiz

10 Questions Week 4

Q:

A kind of lease in which ownership of the asset is intended at the end of the lease is called:

View Solution

Q:

True or False: A capital lease will show up on the profit and loss statement.

View Solution

Q:

In a lease agreement, the party that is paying rent is referred to as the:

View Solution

Name*

Email*

Website

0 Comments

Inline Feedbacks

View all comments

Find Questions in This Page: "CTRL+F"