Question

In: Accounting

Which of the following statements is false? A. Rents may be set as a percentage of...

Which of the following statements is false? A. Rents may be set as a percentage of sales or profits rather than a fixed monthly amount and still be deductible as rent expense by the lessee. B. A lessee may deduct as rent expense rent paid in the form of property as well as periodic cash payments but not payment in the form of services performed by the lessee. C. A payment made as a condition to use or occupy property rather than a payment toward the property's purchase normally is classified as rent. D. Both A & B are false.

Solutions

Expert Solution

The correct option for the above MCQ is as follows

D. Both A & B are false.

Hence, The rents which are a fixed monthly amount shall be deductible as rent expense by the lessee.

Also, A lessee cannot get both the rent paid in form of a property as well as periodec cash payments.

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

19. Which of the following statements is false?        a.   certain vegetarian diets may be low...
19. Which of the following statements is false?        a.   certain vegetarian diets may be low in some vitamins and minerals              b.   all food allergies are the consequence of additives to foods        c.   antioxidants react with free radicals        d.   fiber may be considered soluble or insoluble 20. A type of fat which tends to be found in animal fat, and to be solid at room temperature is        a.   saturated        b.   monounsaturated        c.   polyunsaturated       ...
Which of the following statements is FALSE?
 Which of the following statements is FALSE? meiosis creates genetic diversity in sexually reproducing organisms gametes are haploid cells produced by meiosis mitosis produces four genetically identical daughter cells  somatic cells are diploid cells produced by mitosis
Which of the following statements is FALSE?
Which of the following statements is FALSE?a. The rate of second order reactions is dependent on concentration.b. The rate of a first order reaction is dependent on concentraion.c. The half life of a second order reaction is not dependent on concentration.d. The half life of a zero order reaction is dependent on concentration.e. None of the statements are FALSE.
Which of the following statements is false?
Which of the following statements is false? a. A discouraged worker is not counted as an unemployed worker b. The frictional unemployment rate is greater than the natural unemployment rate. c. The natural unemployment rate is greater than the structural unemployment rate d. The natural unemployment rate is equal to the sum of the frictional unemployment rate and the structural unemployment rate.
Which of the following statements about quantity discounts is false? A) The cost-minimizing solution may or...
Which of the following statements about quantity discounts is false? A) The cost-minimizing solution may or may not be where annual holding costs equal annual ordering costs. B) In inventory management, item cost becomes relevant to inventory decisions only when a quantity discount is available. C) If carrying costs are expressed as a percentage of value, EOQ is larger at each lower price in the discount schedule. D) The larger the annual demand, the less attractive a discount schedule will...
Determine if each of the following statements is true or false As the confidence interval percentage...
Determine if each of the following statements is true or false As the confidence interval percentage number increases the confidence interval will get wider. Confidence intervals always contain the population value (parameter). As the confidence interval percentage number increases the margin of error will increase As the sample size increases the standard error will increase If the test statistic is too small (negative) or too large (positive), the p-value would be large
1. Which of the following statements is FALSE?
 1. Which of the following statements is FALSE? Crossover interference is greater over short distances. With complete crossover interference, at most 1 crossover can occur between two genes. Recombination frequency is an overestimate of map distance. Crossover frequency is a good measure of distance even between genes that recombine at a frequency of 50%. 2. Which of the following statements is TRUE? Physical distance between genes is always proportional to map distance. Crossovers occur at a lower frequency in gene-rich regions. Individuals in a true-breeding population must have...
Which of the following statements are true and which are false? a) The magnitude of the...
Which of the following statements are true and which are false? a) The magnitude of the intercept, a, quantifies the steepness of the regression line b) We can apply one-way ANOVA to compare two independent samples. c) In one-way ANOVA we test the following hypotheses: H0: just one group-specific mean is different form the rest H1: all group-specific means are different d)One-way ANOVA cannot be applied if we have a paired-sample design.
Given a data set, which of the following is most likely to be the percentage of...
Given a data set, which of the following is most likely to be the percentage of data within four standard deviations of the mean? 94% 75% 95% 89% 2) If the mean of a data set is 5 and the data is said to be symmetric, then the median will be 3 5 1 7
Which of the following statements concerning depreciation is false?
Which of the following statements concerning depreciation is false?                        a.         Depreciation expense occurs because the cost of long-term assets such as buildings and equipment must be matched to the revenues produced by those assets.                        b.         Depreciation expense on the income statement “flows through” to the accumulated depreciation account on (or in the notes section of) the balance sheet.                        c.         The net property and equipment account on the balance sheet is equal to gross fixed assets plus accumulated depreciation.                        d.         Depreciation...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT