Which of the following statements is true when comparing the accounting for leasing transactions under GAAP with IFRS?

(a) IFRS for leases is more “rules-based” than GAAP and includes many bright-line criteria to determine ownership.

(b) IFRS requires that companies provide a year-by-year breakout of future non-cancelable lease payments due in years 1 through 5.

(c) The IFRS leasing standard is the subject of over 30 interpretations since its issuance in 1982.

(d) IFRS does not provide detailed guidance for leases of natural resources, sale-leasebacks, and leveraged leases.