罗斯公司理财题库全集7.doc

Chapter 21 Leasing ? Multiple Choice Questions? 1.?In a lease arrangement, the owner of the asset is:?A.?the lesser.B.?the lessee.C.?the lessor.D.?the leaser.E.?None of the above. ? 2.?In a lease arrangement, the user of the asset is:?A.?the lesser.B.?the lessee.C.?the lessor.D.?the leaser.E.?None of the above. ? 3.?Which of the following would not be a characteristic of a financial lease??A.?They are not usually fully amortized.B.?They usually do not have maintenance necessary for the leased assets.C.?They usually do not include a cancellation option.D.?The lessee usually has the right to renew the lease at expiration.E.?All of the above are characteristics of financial leases. ? 4.?An independent leasing company supplies ___________ leases versus the manufacturer who supplies ________________ leases.?A.?leveraged; directB.?sales and leaseback; sales-typeC.?capital; sales-typeD.?direct; sales-typeE.?None of the above ? 5.?Which of the following is not a financial lease??A.?A leveraged leaseB.?An operating leaseC.?A sale-and-leasebackD.?Both A and B.E.?None of the above. ? 6.?If the lessor borrows much of the purchase price of a leased asset, the lease is called:?A.?a leveraged lease.B.?a sale-and-leaseback.C.?a capital lease.D.?a nonrecourse lease.E.?None of the above. ? 7.?An operating leases primary characteristics are:?A.?fully amortized, lessee maintains equipment and there is no cancellation clause.B.?not fully amortized, lessor maintains equipment and there is a cancellation clause.C.?fully amortized, lessor maintains equipment and there is a cancellation clause.D.?not fully amortized, lessor maintains equipment and there is not cancellation clause.E.?fully amortized, lessee maintains equipment and lessee can acquire assets at end of lease for fair market value. ? 8.?If a lease is for 35 years, it is regarded as a:?A.?financial lease.B.?operating lease.C.?capital lease.D.?conditional sale.E.?sale and leaseback. ? 9