Savinsky Industries prepares its financial statements using IFRS and reports its leases as finance leases. If the company reported under U.S. GAAP, is it possible that some of the leases could be classified as an operating lease? Explain Your initial post must be in your own words.

Answer rating: 100% (QA)

A lease is a legal contracting agreement in which a firm rents property Under leasing a firm agrees to rent property r service from another firm and t... View the full answer