Which of the Following Statements Is FALSE

question 5

Multiple Choice

Which of the following statements is FALSE?

• A)The decision to lease is often driven by real-world market imperfections related to leasing's accounting,tax,and legal treatment.
• B)When publicly traded firms disclose leasing transactions in their financial statements,they must follow the recommendations of the Financial Accounting Standards Board (FASB).
• C)In its Statement of Financial Accounting Standards No.13 (FAS13),the FASB provides specific criteria that distinguish a true tax lease from a non-tax lease.
• D)The categories used to report leases on the financial statements affect the values of assets on the balance sheet,but they have no direct effect on the cash flows that result from a leasing transaction.

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Definitions:

Hostility

It refers to feelings of anger, antagonism, or opposition towards others or situations.

Anger

An emotional response characterized by antagonism toward someone or something you feel has deliberately done you wrong.

Frustration

An emotional response experienced when something interferes with one's path to achieve a goal or fulfill a need.

Immune System

The body’s system for fighting disease.