Question: When comparing IFRS and GAAP, which statement is true about the classification of leases? Group of answer choices IFRS requires all leases to be capitalized.

When comparing IFRS and GAAP, which statement is true about the classification of leases? Group of answer choices IFRS requires all leases to be capitalized. GAAP allows for more flexibility in lease classification. Both frameworks treat operating leases similarly. IFRS does not recognize lease assets and liabilities

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