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Which is true regarding to an operating lease

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Reference no: EM132824732

Problem 1: Which of the following is true regarding to an operating lease?

a. Lease liability account is credited in the books of the lessee

b. is depreciation of the underlying asset is debited in the books of the lessee

c. the lessor may classify the lease contract as a sale type lease and record a corresponding sales revenue

d. the lessor shall recognize a depreciation expense in relation to the underlying asset

 

Reference no: EM132824732

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