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Which of the Following Statements Regarding Leased Assets Is Incorrect

Question 15

Multiple Choice

Which of the following statements regarding leased assets is incorrect?


A) Accrual accounting recognises the economic value of the asset.
B) Lease assets are amortised.
C) The principal portion is deducted from the lease and the interest is an expense.
D) The cost of the lease asset is not recorded in the balance sheet.

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