Multiple Choice
Madrigal Corp. sold its headquarters building at a gain, and simultaneously leased back the building from the buyer. The lease was reported as a capital (finance) lease. At the time of the sale, the gain should be reported as
A) operating income.
B) other comprehensive income.
C) a separate component of shareholders' equity.
D) a deferred gain.
Correct Answer:
Verified
Correct Answer:
Verified
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