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Determine the specific seven- or eight-digit Codification citation (XXX-XX-XX-X) for accounting for each of the following items:( Value = 5 points each = 20 Total
Determine the specific seven- or eight-digit Codification citation (XXX-XX-XX-X) for accounting for each of the following items:(Value = 5 points each = 20 Total for Part 1)
- Definition of initial direct cost.
- When a modification to a contract is reported as a separate contract (that is, separate from the original contract).
- The disclosures required in the notes to the financial statements for a lessor.
- The classification criteria for when a lessee classifies a lease as a finance and a lessor classifies a lease as a sales-type lease.
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