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