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Which of the following is not a characteristic of both a finance lease and an operating lease? Group of answer choices Lease expense is reported
Which of the following is not a characteristic of both a finance lease and an operating lease?
Group of answer choices
Lease expense is reported on the income statement.
Lease liability is established at the inception of the lease agreement
The amount of lease liability is calculated at the present value of the future cash flows.
The right-of-use asset is amortized
A right-of-use asset is recorded on the balance sheet
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