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Which of the following statements are true? ( Check all that apply ) . The lease expense amount for operating leases remains constant over the
Which of the following statements are true? Check all that apply
The lease expense amount for operating leases remains constant over the life
of the lease. The expense is allocated to cost of goods sold or operating
expenses based on the nature of the lease's purpose.
For both operating and finance leases, interest is imputed and recognized, as
interest expense in the nonoperating section of the income statement.
In order to be recognized as a finance lease, the property transfers to the
lessee at the end of the lease term.
The minimum future lease payments for the next five years are disclosed in
the notes to the financial statements regardless of the classification of the
lease as financing or operating.
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