Question: Under ASC 842 for lease accounting, which statement below is not accurate with respect to financial reporting? Multiple Choice Lease expense is shown in the

Under ASC 842 for lease accounting, which statement below is not accurate with respect to financial reporting?

Multiple Choice

  • Lease expense is shown in the operating section of the statement of cash flows.

  • Finance leases show separate amounts for amortization and interest expense.

  • Operating leases show total lease expenses as a single line item.

  • Lease expense is shown in the financing section of the statement of cash flows.

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