In an operating lease, the lessor records a lease receivable and derecognizes the leased asset (taking it off the balance sheet) similar to how it would record a sales-type lease. True False If the likelihood of a loss contingency is reasonably possible and the dollar amount of the loss contingency is reasonably estimable, please select the most accurate answer that reflects if the loss contingency needs to be accrued and if a disclosure note should be required. Disclosure Note only Liability accrued and disclosure note No disclosure required Only liability is accrued