Effective January 1, 2019, with the enactment of Accounting Standards Codification (ASC) Topic 842: Group of answer choices operating leases of 6 months or longer must be reflected on the balance sheet as both assets and liabilities operating leases of 6 months or longer must be reflected on the balance sheet as assets only operating leases of 9 months or longer must be reflected on the balance sheet as liabilities only operating leases of 12 months or longer must be reflected on the balance sheet as both assets and liabilities