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Question 3 0 / 2.5 pt Which of the following statements regarding accounting for leases is true? If the lease term is one year or

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Question 3 0 / 2.5 pt Which of the following statements regarding accounting for leases is true? If the lease term is one year or longer, a liability must be recognized. Lease accounting rules will result in more assets and liabilities being recognized on the balance sheet. Leasing will likely remain popular because leases do not require a large initial outlay of cash. O All of these are correct. O None of these are correct

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