Which of the Following Is a Disclosure That a Lessor

question 94

Multiple Choice

Which of the following is a disclosure that a lessor must make within its financial statements?

• A) components of the net investment in both sales-type and direct-finance capital leases
• B) aggregated minimum lease payments for the next five years
• C) future minimum lease payments on both cancellable and non-cancellable operating leases
• D) the original cost of assets held and leased to others under operating leases

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Definitions:

Quartzite

A hard, non-foliated metamorphic rock which was originally pure quartz sandstone and transformed through heat and pressure.

Fractures

Breaks in rock or mineral formations where there has been no significant movement on either side.

Unmetamorphosed Sedimentary

Refers to sedimentary rocks that have not undergone metamorphism and retain their original sedimentary characteristics.

Fault Scarps

Steep cliffs or slopes formed by the displacement of the ground surface due to movement along a fault.