Which of the following statements regarding accounting for leases is true?

Group of answer choices:

a.) If the lease term is one year or longer, a liability must be recognized.

b.) Lease accounting rules will result in more assets and liabilities being recognized on the balance sheet.

c.) Leasing will likely remain popular because leases do not require a large initial outlay of cash.

d.) All of these are correct.

e.) None of these are correct.