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20.Which of the following is a reason why lease accounting under U.S. GAAP and IFRS were revised? Multiple Choice It was too easy for firms

20.Which of the following is a reason why lease accounting under U.S. GAAP and IFRS were revised?

Multiple Choice

  • It was too easy for firms to circumvent lease capitalization criteria.
  • To enhance comparability for analyzing different companies' financial statements.
  • Operating leases were a popular means of off-balance sheet financing.
  • All of these answer choices are correct.

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