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    Intermediate Accounting Study Set 7
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    Exam 18: Extension: Ol Accounting for Leases Current Standard
  5. Question
    A Lessor Reports Rental Revenue If It Classifies the Leased
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A Lessor Reports Rental Revenue If It Classifies the Leased

Question 100

Question 100

True/False

A lessor reports rental revenue if it classifies the leased asset as inventory and reports a gain on leased asset if it classifies the leased asset as property, plant, and equipment.

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