Which of the following is a true statement about accounting for leases under the FASB standard issued in 2016?

a.Classification criteria under the new standard apply only to lessees and not to lessors.

b.The standard does not require capitalization of any lease embedded in another contract.

c.Fewer leases will be capitalized under the new standard.

d.The new standard requires companies to move leased assets and related liabilities out of footnote disclosures and onto the balance sheet.

Audit Accounting