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According to Topic 840-10-15 regarding leasing disclosure, which of the following statements is (are) true? All lease arrangements must be reported on the balance sheet
According to Topic 840-10-15 regarding leasing disclosure, which of the following statements is (are) true?
All lease arrangements must be reported on the balance sheet | ||
Capital leased assets must be reported as a fixed asset on the balance sheet | ||
Lease payments expected within the next 1 year must be reported as a liability (debt) on the balance sheet. | ||
The present value of all future lease payments for capital leased assets must be reported as a liability (debt) on the balance sheet. | ||
Both b and d are true |
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