Question: Except for short - term operating leases for which the lessee elects not to report a lease asset and liability, FASB ASC 8 4 2

Except for short-term operating leases for which the lessee elects not to report a lease asset and liability, FASB ASC 842 requires lessees to report an asset and liability for all operating lessees. Prior GAAP only required lessees to report an asset and liability for capital leases.

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