Which of the following statements regarding the new accounting rules, which take effect in 2019, for leases is false?
Concept introduction:
Bonds:
Bonds are debt instruments issued by the borrower company to its lenders. Bonds are issued at a specified rate of interest and for a specified time period. The bondholders get a fixed rate of interest on the bonds and repayment of the bonds at the maturity date. Bonds may be issued at a premium or discount. The premium or discount on issue of binds is amortized or the life of bonds using the straight line or effective rate methods.
To choose:
The False Statement about new rules of accounting for leases.
Explanation for correct answer:
The new lease accounting rules will result in more assets and liabilities being recognized on the balance sheet. Hence, the correct option is c.
Explanation for incorrect answers:
a. The new lease accounting rules will result in more assets and liabilities being recognized on the balance sheet...
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