Under the pre-2019 accounting standards, how are operating leases reported in the lessee's balance sheet? Select one: A. As an asset that is depreciated, similar to the company's other assets. B. As either a short-term or long-term liability, depending on the length of the lease C. At the present value of the future minimum lease payments. D. Operating leases are not disclosed in the lessee's balance sheet or annual report. E. None of the above
Under the pre-2019 accounting standards, how are operating leases reported in the lessee's balance sheet? Select one: A. As an asset that is depreciated, similar to the company's other assets. B. As either a short-term or long-term liability, depending on the length of the lease C. At the present value of the future minimum lease payments. D. Operating leases are not disclosed in the lessee's balance sheet or annual report. E. None of the above
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 17MCQ: Which of the following statements regarding the new accounting rules, which take effect in 2019, for...
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Under the pre-2019 accounting standards, how are operating leases reported in the lessee's balance sheet ?
Select one:
A. As an asset that is depreciated , similar to the company's other assets.
B. As either a short-term or long-term liability, depending on the length of the lease
C. At the present value of the future minimum lease payments.
D. Operating leases are not disclosed in the lessee's balance sheet or annual report.
E. None of the above
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