All of the following statements about lease accounting under IFRS and GAAP are true except:

(a) IFRS requires a year-by-year breakout of payments related to leasing arrangements.

(b) IFRS is more general in its lease accounting provisions than is GAAP.

(c) The IFRS leasing standard, IAS 17, is the subject of only three interpretations.

(d) Finance leases under IFRS are referred to as capital leases under GAAP.