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20-6 Explain the difference in treatment for short-term leasing (lease terms of 12 months or less) versus longer-term operating leases. Is there any difference
20-6 Explain the difference in treatment for short-term leasing (lease terms of 12 months or less) versus longer-term operating leases. Is there any difference in the accounting treatment of long-term operating leases and finance leases? Think about both the balance sheet and the income statement.
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Answer Operating leases and financing leases are the two categories that leases fall under The most important distinction between these two kinds of leases is that operational leases are not reported ...
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
