Which One of the Following Statements Is Required by IFRS

Multiple Choice

Which one of the following statements is required by IFRS for reporting of leases, but not required for GAAP reporting?

A) Leases must be capitalized if the leased asset's risks and rewards are transferred to the lessee
B) Lease accounting is more principles based than rules based
C) Capitalizing a lease requires that the lessee depreciate the leased asset
D) Operating lease payments are reported as rent expense