Question
A lessee is allowed to elect not to record a right-of-use asset and lease payable at the beginning of the lease term for a lease
A lessee is allowed to elect not to record a right-of-use asset and lease payable at the beginning of the lease term for a lease that has a lease term of 12 months or having a value of $5,000 or less when using:
a. IFRS.
b. U.S. GAAP.
c. Either U.S. GAAP or IFRS.
d. Neither U.S. GAAP nor IFRS.
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
