Which of the Following Statements Concerning Leases Is True

Multiple Choice

Which of the following statements concerning leases is true?

A) Finance leases are favored by lessees.
B) The appearance of the account, Leased Asset, on the statement of financial position, signifies an operating lease.
C) The portion of a lease liability expected to be paid in the next year is reported as a current liability.
D) Present value is irrelevant in accounting for leases.