Which type of lease will not increase a company’s assets or long-term liabilities? Select one: a. A one-year operating lease b. A lease for an asset of a specialized nature with no alternative use at the end of the lease term c. A finance lease d. A lease that transfers ownership of the asset to the lessee by the end of the lease term
Which type of lease will not increase a company’s assets or long-term liabilities? Select one: a. A one-year operating lease b. A lease for an asset of a specialized nature with no alternative use at the end of the lease term c. A finance lease d. A lease that transfers ownership of the asset to the lessee by the end of the lease term
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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Which type of lease will not increase a company’s assets or long-term liabilities?
Select one:
a. A one-year operating lease
b. A lease for an asset of a specialized nature with no alternative use at the end of the lease term
c. A finance lease
d. A lease that transfers ownership of the asset to the lessee by the end of the lease term
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