Multiple Choice
Which of the following statements regarding leases is false?
A) Lease agreements are a popular form of financing the purchase of assets because leases do not require a large initial outlay of cash.
B) Accounting recognizes two types of leases-operating leases and capital leases.
C) If a lessor classifies a lease as a capital lease,then the lessee records a lease liability on its balance sheet.
D) If a lease is classified as an operating lease,the lessee records a lease liability on its balance sheet.
Correct Answer:
Verified
Correct Answer:
Verified
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