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Which of the following statements are TRUE? 1. All leases with noncancelable lease terms greater than 12 months are recognized on the balance sheet. II.
Which of the following statements are TRUE? 1. All leases with noncancelable lease terms greater than 12 months are recognized on the balance sheet. II. When the lessee classifies a lease as an operating lease, the lessor also classifies the lease as an operating lease. III. When the lessee classifies a lease as a finance lease, the lessor also classifies the lease as a finance lease. O I and III O I, II and III I only O II and III O I and
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