Which of the following is not true in relation to leases? (a) An operating lease is where

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Which of the following is not true in relation to leases?

(a) An operating lease is where the lessee effectively retains the risks and rewards of owning an asset.

(b) An operating lease is where the lessor effectively retains the risks and rewards of owning an asset.

(c) A finance lease is where the substantial risks and rewards of ownership of the asset are not transferred to the lessee.

(d) A finance lease is where the ownership is transferred to the lessee.

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Financial Accounting Reporting, Analysis And Decision Making

ISBN: 9780730363279

6th Edition

Authors: Shirley Carlon

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Question Posted: May 10, 2024 01:00 AM

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Which of the following is not true in relation to leases? (a) An operating lease is where

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Financial Accounting Reporting, Analysis And Decision Making

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