1. Guilford Co. has leased property and accounted for the transaction as a capital lease. The amount recorded initially by Guilford as a liability should normally A)Exceed the total of the minimum lease payments. B)Exceed the present value of the minimum lease payments at the beginning of the lease. C)Equal the total of the minimum lease payments. D)Equal the present value of the minimum lease payments at the beginning of the lease.

The state troopers in one state have a motto, “nine you’re fine; ten you’re mine,” which is the standard that they use for pulling over speeders on the state highways. in other words, if the posted speed limit is 55 mph, drivers can drive at a rate up to 64 mph without fear of getting a ticket. which of the following best describes the ethical culture in the state? a. the troopers are following a standard of positive law. b. the troopers are following a normative standard. c. the troopers are following a headline test. d. the troopers are following the blanchard/peale standard.