In finance lease agreement, the option for the lessee to purchase the property or equipment at a specific price is known as __________________________.

Related MCQs

• ____________ is the estimated remaining period, from the commencement of the lease term, without limitation by the lease term, over which the economic benefits embodied in the asset are expected to be consumed by the entity.
• ________________accounting is the process by which companies and organizations record the financial impact of agreements to rent or finance the rights to use specific assets.
• A ____________ is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. Title may or may not eventually be transferred.
• The objective of ________________is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosures to apply in relation to finance and operating leases.
• ______________________is the assistance of finance professionals to settle disputes concerning allegations, fraudulence, suspicion of fraud and misconduct in business.
• Any agreement between two or more parties to collaborate with each other, in order to achieve certain objectives while continuing to remain independent organizations is called _______________.
• Increase in the price of various goods and services over a period of time is known as ___________________
• Price for changes accounting can be done by the following method__________________.
• A branch of accounting which decodes the human nature to hide failures, conceal problems, defend wrong decisions, and cover up mistakes is known as___________________.
• Merger where two companies are in the same or related industries but do not offer the same products, but related products and may share similar distribution channels, providing synergies for the merger is known as ____________ Merger.