All of the following are considered \"Off Balance Sheet\" except: Capital Lease

Question

All of the following are considered "Off Balance Sheet" except: Capital Lease Guarantees Operating Lease Commitments Short-term debt on the Balance Sheet is expected to be ? Increased over the next year Re-paid over the next year Remain unchanged Converted to equity An auditor for a Company was sent to take an inventory count at one of the Company's warehouses as this particular location seemed to show inexplicably high levels of ending inventory. Why would the auditor be concerned that the Company may be over-stating its ending inventory balances? The auditor was just trying to increase audit exam costs A higher ending inventory balance would increase cost of goods sale The warehouse was potentially operating inefficiently and had an unnecessary build up of inventory A higher ending inventory balance would result in an artificially higher reported gross profit

Explanation / Answer

Answer 26  Capital lease

Anwer 27   Repaid over the next year

Answer 28 A higher ending inventory balance would result in an artifically higher reported gross profit

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.