U.S. GAAP requires that certain leases be accounted for as capital leases. The reason for this treatment
Question:
U.S. GAAP requires that certain leases be accounted for as capital leases. The reason for this treatment is that this type of lease
a. conveys the benefits and risks of ownership of the asset.
b. is an example of form over substance.
c. provides the use of the leased asset to the lessee for a limited period.
d. is an example of off-balance-sheet financing.
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a conveys the benefits and risks of ownership of the asset Explanation Under US GAAP a lease i...View the full answer
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Related Book For 
Financial Accounting
ISBN: 9781618531650
5th Edition
Authors: Michelle Hanlon, Robert Magee, Glenn Pfeiffer, Thomas Dyckman
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