80. In which of the following instances will the sale with a right to repurchase or pacto de retro sale or deed of absolute sale not be presumed an equitable mortgage? Group of answer choices a. When the price of a sale with a right to repurchase is inadequate. b. When the vendor remains in possession as lessee or otherwise c. When the purchaser retains for himself part of the purchase price

80. In which of the following instances will the sale with a right to repurchase or pacto de retro sale or deed of absolute sale not be presumed an equitable mortgage? Group of answer choices a. When the price of a sale with a right to repurchase is inadequate. b. When the vendor remains in possession as lessee or otherwise c. When the purchaser retains for himself part of the purchase price

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Unless otherwise stated in the security agreement, if a debtor sells, exchanges or disposes of the collateral subject to a security agreement, the secured party_____have the right to receive the proceeds of the sale. Group of answer choices does not does
24. One of the following statements is false: * a. If the underlying asset will not revert to the lessor, the residual value is simply ignored by the lessor in the computation of unearned interest income and gross profit on the sale. b. The underlying asset will remain with the lessee if the lease provides for either a purchase option that is reasonably to be exercised or transfer of title to the lessee upon the lease expiration. c. When a lessor actually sells an asset that it has been leasing, the difference between the sales price and the carrying amount of the lease receivable is recognized in profit or loss. d. The gain or loss that pertains to the right retained by the seller- lessee in a sales and leaseback transaction is not recognized.
In some states, a mortgage is considered to be a lien on real property. In other states, like Connecticut, a mortgage is a: a. temporary transfer of title b. bona fida purchase c. sales contract d. all of the above
Which one of the following is true about a firm commitment? Select one: a. A firm commitment is a contract that allows both the buyer or seller an option to engage (or not) in a long-term transaction. b. A firm commitment is a transaction that has already occurred and the commitment to pay or receive payment is pending. c. A firm commitment occurs as a result of a historical relationship and there is an expected commitment to engage in a transaction in the future. d. A firm commitment is an agreement with legally enforceable terms
Which of the following is true about lease incentives?a. It forms part of the lease liability and right of use asset when the amount is actually receivedb. It forms part of the lease liability when the amount is still receivablec. It forms part of the lease liability and right of use asset when the amount is still receivabled. None of the choices
Which of the following factors cannot be used to determine an insurer's limit of liability on property coverage? O A. Actual cash value Replacement cost Salvage value Policy limits OB. O C. D. Whiteboard
What is an option? OA) A contract that is derived from some other underlying quantity, index, asset or event. B) A contract that gives the holder the right to buy or sell something at a specified price. C) A contract that gives the holder the right to sell an instrument at a pre- specified price. D) A contract that gives the holder the right to acquire an instrument at a pre- specified price.
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11. Which is an incorrect scenario on covenants?a. The issuing firms pursued revenue generating projects to ensure payment of the interest and theprincipal on a timely basis.b. The issuing firm disposes a mortgage on a bond to settle other creditors’ claims to preventinsolvency.c. The issuing firm submitted periodic reports to the trustee bank to fulfill the loan agreement.d. The issuing firm disposed the collateral to settle the agreement with the bondholders.e. B & Df. All of the aboveg. None of the above 12. Statement 1: Bond issuers can take additional loans against the properties that were considered ascollaterals for the bonds.Statement 2: Bond issuers can impose the taxes paid for registering the bonds against on the interestand principal claims of the bondholders.Statement 3: Bond issuers can prioritize other claims of other creditors over the bondholders in casesof bankruptcy. Statement 4: Bond issuers can pay dividends of shareholders even though the bondholders were…
Which of the following scenarios regarding a sale and leaseback transaction would result to a loss to the seller-lessee? Fair Value < Carrying Amount Fair Value > Carrying Amount Sale Price < Fair Value Sale Price > Fair Value
19. Which of the following may be classified as a financial asset at fair value through profit or loss? Group of answer choices A non-derivative debt instrument All of these A non-derivative equity instrument A derivative
Under what conditions might a property with an assumable loan sell for more than comparable properties with no assumable loans available?