Which of the four criteria should not be applied if a lease begins in the last 25% of an asset's useful life?
A) The 75% test and the bargain purchase option.
B) The 90% test and the bargain purchase option.
C) The 75% test and the 90% test.
D) The 90% test and the passage of title test.
Answer: C
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In stating that all human beings are born free and equal in dignity and rights and that they are endowed with reason and conscience and should act toward one another in a spirit of brotherhood, Article 1 of the Universal Declaration of Human Rights echoes
A. the Friedman doctrine. B. naive immoralism. C. cultural relativism. D. Kantian ethics. E. teleological theory.
In a floating exchange rate, the relative value of a currency:
A. is more predictable and less volatile. B. is determined by market forces. C. changes infrequently only under a specific set of circumstances. D. is set against other currencies at some mutually agreed on exchange rate. E. does not depend on the free play of market forces.