(完整word版)罗斯公司理财题库全集(word文档良心出品)

Chapter21-Leasing21-1Chapter21LeasingMultipleChoiceQuestions1.Inaleasearrangement,theowneroftheassetis:A.thelesser.B.thelessee.C.thelessor.D.theleaser.E.Noneoftheabove.2.Inaleasearrangement,theuseroftheassetis:A.thelesser.B.thelessee.C.thelessor.D.theleaser.E.Noneoftheabove.3.Whichofthefollowingwouldnotbeacharacteristicofafinanciallease?A.Theyarenotusuallyfullyamortized.B.Theyusuallydonothavemaintenancenecessaryfortheleasedassets.C.Theyusuallydonotincludeacancellationoption.D.Thelesseeusuallyhastherighttorenewtheleaseatexpiration.E.Alloftheabovearecharacteristicsoffinancialleases.4.Anindependentleasingcompanysupplies___________leasesversusthemanufacturerwhosupplies________________leases.A.leveraged;directB.salesandleaseback;sales-typeC.capital;sales-typeD.direct;sales-typeE.NoneoftheaboveChapter21-Leasing21-25.Whichofthefollowingisnotafinanciallease?A.AleveragedleaseB.AnoperatingleaseC.Asale-and-leasebackD.BothAandB.E.Noneoftheabove.6.Ifthelessorborrowsmuchofthepurchasepriceofaleasedasset,theleaseiscalled:A.aleveragedlease.B.asale-and-leaseback.C.acapitallease.D.anonrecourselease.E.Noneoftheabove.7.Anoperatinglease'sprimarycharacteristicsare:A.fullyamortized,lesseemaintainsequipmentandthereisnocancellationclause.B.notfullyamortized,lessormaintainsequipmentandthereisacancellationclause.C.fullyamortized,lessormaintainsequipmentandthereisacancellationclause.D.notfullyamortized,lessormaintainsequipmentandthereisnotcancellationclause.E.fullyamortized,lesseemaintainsequipmentandlesseecanacquireassetsatendofleaseforfairmarketvalue.8.Ifaleaseisfor35years,itisregardedasa:A.financiallease.B.operatinglease.C.capitallease.D.conditionalsale.E.saleandleaseback.Chapter21-Leasing21-39.ThecityofOaklandsoldsomebuildingsandusedtheproceedstoimproveitsfinancialposition.Thecitythenleasedthebuildingsbackinordertocontinuetousethesefacilities.Thisisanexampleof:A.anoperatinglease.B.ashort-termlease.C.asaleandleaseback.D.afullyamortizedlease.E.Noneoftheabove.10.Afinancialleasehasthefollowingasitsprimarycharacteristics:A.isfullyamortized,lesseemaintainsequipmentandthereisnorenewalclauseandnocancellationclause.B.isnotfullyamortized,lessormaintainsequipmentandthereisarenewalclausebutnocancellationclause.C.isfullyamortized,lessormaintainsequipmentandthereisarenewalclauseandanocancellationclause.D.isnotfullyamortized,lessormaintainsequipmentandthereisarenewalclause.E.isfullyamortized,lesseemaintainsequipmentandthereisarenewalclauseandanocancellationclause.11.Anadvantageofleasingisthatthelessordoesnotowntheassetandcancancel:A.onlyfinancialleases.B.onlyoperatingleases.C.onlycapitalleases.D.anykindofleasesanytime.E.Noneoftheabove.12.Aleveragedleasetypicallyinvolvesanon-recourseloaninwhich:A.thelessee'spaymentsgodirectlytothelenderincaseofdefault.B.thelessorisnotobligatedincaseofdefault.C.thethirdpartylendershaveafirstlienontheassets.D.Alloftheabove.E.Noneoftheabove.Chapter21-Leasing21-413.Foraccountingpurposes,whichofthefollowingconditionswouldautomaticallycausealeasetobeacapitallease?A.Thelesseecanpurchasetheassetbelowfairmarketvalueattheendofthelease.B.Theleasetransfersownershipoftheassettothelesseebytheendofthelease.C.Theleasetermismorethan75%oftheasset'seconomiclife.D.Thepresentvalueoftheleasepaymentsismorethan90%oftheasset'smarketvalueatleaseinception.E.Alloftheabovewouldleadtotheleasebeingconsideredacapitallease.14.Capitalleaseswouldshowuponthebalancesheetofthefirminwhichmannerforasixyearmachineryleaseworth$700,000?A.Capitalleasesdonothavetobeputonthebalancesheet;onlyfinancialleasesdo.B.Asset-Machinery$700,000;Liabilities-LongTermdebt$700,000becauseofdebtdisplacement.C.Asset-AssetsunderCapitalLease$700,000;Liabilities-ObligationsunderCapitalLease$700,000.D.Assets-AssetsunderCapitalLease$700,000;Liabilities-LongTermDebt$700,000becauseofdebtdisplacement.E.Noneoftheabove.15.PriortoFASB13,AccountingforLeases,leaseactivitywasonlyreportedinfinancialfootnotes.Thisoff-balance-sheet-financingmadefirmswith:A.capitalleasesappearfinanciallystrongerthanfirmsthatuseddebttopurchasetheasset.B.operatingleasesappearfinanciallystrongerthanfirmsthatuseddebttopurchasetheasset.C.leasesofanytypeappearfinanciallystrongerthanfirmsthatuseddebttopurchasetheasset.D.Alloftheabove.E.Noneoftheabove.Chapter21-Leasing21-516.WhichofthefollowingisnotanimplicationofFASB13,AccountingforLeases?A.FASB13requiresthatthePVoftheleasepaymentsappearontherighthandsideofthebalancesheet.B.FASB13requiresthatthepresentvalueoftheassetappearonthelefthandsideofthebalancesheet.C.FASB13allowsforoff-balance-sheetfinancingforoperatingleases.D.Alloftheabove.E.Noneoftheabove.17.ThereasontheIRSismostconcernedaboutleasecontractsis:A.firmsthatleasegenerallypaynotaxes.B.thatleasingusuallyleadstobankruptcy.C.thatleasescanbesetupsolelytoavoidtaxes.D.becauseleasingleadstooff-balance-sheet-financing.E.Alloftheabove.18.Aleasewithhighpaymentsearlyinitslifewhichthendeclinetoterminationwould:A.providegreatercashflowtothelesseeinthebeginningyears.B.beevidenceoftaxavoidanceandnotacceptabletotheIRS.C.bequali