Multiple Choice
Which of the following is not a true statement regarding ARB 38?
A) It was the first lease accounting standard.
B) It recommended capitalization for leases that were in substance installment purchases.
C) It was most applicable to leases that were de facto conditional sales agreements.
D) Non-cancellability was introduced as a precondition for capitalization.
Correct Answer:
Verified
Correct Answer:
Verified
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