Multiple Choice
Under both U.S.GAAP and IFRS,a lease is a capital lease (called a finance lease under IFRS) if substantially all risks and rewards of ownership are transferred.In making this determination,more judgment,and less specificity,is applied using:
A) U.S.GAAP.
B) IFRS.
C) Both U.S.GAAP and IFRS.
D) Neither U.S.GAAP nor IFRS.
Correct Answer:
Verified
Correct Answer:
Verified
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