Dividends received on equity assets representing < 20% ownership reduce the carrying amount of equity asset on the balance sheet. T F

Common stockholders elect the board of directors and manage the operations of the company. T F

In a sales-type lease, the present value of the minimum lease payments do not equal the fair value of the asset. T F

The difference between an operating lease and a capital lease is that, in substance, an operating lease transferred the economic benefit and risk of ownership from the lessor to the lessee. T F