Question: Select all that apply Which of the following is true of operating leases? Multiple select question. Lease payments are expensed on the income statement. The

Select all that apply Which of the following is true of operating leases? Multiple select question. Lease payments are expensed on the income statement. The present value of the lease payments appears on the balance sheet as a liability. The lessee is renting an asset for a short period of time. All of the risks and benefits of ownership are transfered to the lessee

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