To answer the following questions, refer to the financial statements and the notes to the financial statements
Question:
To answer the following questions, refer to the financial statements and the notes to the financial statements in CVS Corporation’s annual report in the Supplement to Chapter 5:
1. Is it the practice of CVS to own or lease most of its building?
2. Does CVS lease property predominantly under capital leases or under operating leases? How much was rental expense for operating leases in 2008?
3. Does CVS have a defined benefits pension plan? Does it offer post-retirement benefits?
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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1 From the note on property and equipment it may be seen that CVS has a small amount of land and b...View the full answer
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Related Book For 
Principles Of Financial Accounting
ISBN: 9780538755160
11th Edition
Authors: Belverd E Needles, Marian Powers
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