Question
When a lease is accounted for by both the lessor and the lessee as an operating lease, which party is responsible for recording depreciation on
When a lease is accounted for by both the lessor and the lessee as an operating lease, which party is responsible for recording depreciation on the leased asset?
a. Lessee.
b. Lessor.
c. Neither party.
d. The answer depends on whether ownership of the leased asset reverts to the lessor at the end of the lease.
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds
10th Edition
126410068X, 9781264100682
