According to Generally Accepted Accounting Principles $($GAAP$)$ regarding leasing disclosure, which of the following statements is $($are$)$ true?

All lease arrangements must be reported on the balance sheet.

Capital leased assets must be reported as a fixed$-$asset on the balance sheet.

Lease payments expected within the next year must be reported as a liability $($debt$)$ on the balance sheet.

The present value of all future lease payments for the capital asset must be reported as a liability $($debt$)$ on the balance sheet.

Both b and d$.$

None of the above are true.