Which of the Following Statements Is FALSE

Multiple Choice

Which of the following statements is FALSE?

A) The decision to lease is often driven by real-world market imperfections related to leasing's accounting,tax,and legal treatment.
B) When publicly traded firms disclose leasing transactions in their financial statements,they must follow the recommendations of the Financial Accounting Standards Board (FASB) .
C) In its Statement of Financial Accounting Standards No.13 (FAS13) ,the FASB provides specific criteria that distinguish a true tax lease from a non-tax lease.
D) The categories used to report leases on the financial statements affect the values of assets on the balance sheet,but they have no direct effect on the cash flows that result from a leasing transaction.