ACC 499 Midterm Part 1 ( Set 1 ) ACC 499 Midterm Part 1 Question 1
Which of the following is not a required disclosure by a lessee of an operating lease ?
Question 2
Which of the following facts would require a lessee to classify a lease as a capital lease ?
Question 3
When a lessor receives cash on an operating lease , which of the following accounts is increased ?
Question 4
FASB ' s rules concerning leases are an attempt to record in the financial statements
Question 5
As a generalized statement regarding lease accounting , which statement best describes U . S . versus international accounting principles ?
Question 6
The account Unearned Interest : Leases should be reported on the lessor ' s financial statements as
Question 7
Any initial direct costs incurred by the lessor for a lease agreement that is classified as an operating lease should be