Consistent with ASC Topic 842, at the inception of the lease, lessees must recognize a “right-of-use” asset for which type of lease(s)?
a. Finance leasesIncorrect
b. Finance leases and operating leases
c. Finance, short-term, and operating leases
d. Finance leases and short-term leases
Answer: b. Finance leases and operating leases
Business
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One of the following is in its correct indexing order:
a. Hall's Auto Repair, Hall's Alignment & Brake, Hall's Automatic Sprinklers b. Handling & Company, Handling Equipment Corp, Handmade & Company c. Hangil Café, Hangil Motel, Hanging Gardens d. Happiness House, Happiness Hallmark, Happiness, Inc.
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What are the advantages and disadvantages of a limited liability company?
What will be an ideal response?
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