Deposits that banks keep in accounts at the Federal Reserve less vault cash is called reserves

The movement of a person to a higher-level position in the organization is referred to as a ________

A) promotion B) transfer C) demotion D) termination

If the lessee and the lessor use different interest rates to account for a capital lease, then

a. the lease will never be accounted for as a capital lease by the lessee. b. total expenses (or revenues) will be equal for both lessee and lessor. c. total expenses (or revenues) will be different for the lessee and the lessor. d. GAAP has been violated since the lessor and the lessee are not allowed to use different interest rates in accounting for capital leases.