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Which of these statements is false (applying current US GAAP wherever appropriate) about leasing? Group of answer choices A lessee does not have to capitalize
Which of these statements is false (applying current US GAAP wherever appropriate) about leasing?
Group of answer choices
A lessee does not have to capitalize a lease that is 1 year or less and for which a policy election is made.
A lessee must capitalize any lease that is properly categorized as an operating lease or a finance lease.
For a sales-type lease or for an operating lease, lessor removes the leased asset from their books.
A lessee uses only Group I to categorize leases, but a lessor may have to use both Group I and Group II.
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