If a Company Has an Operating Lease for an Asset

question 3

Multiple Choice

If a company has an operating lease for an asset, which of the following entries for the lease payment is correct?
a) Dr. Lease obligation
Cr. Cash
b) Dr. Amortization expense
Cr. Cash
c) Dr. Rent expense
Dr. Amortization expense
Cr. Cash
d) Dr. Rent expense
Cr. Cash

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Artificial Intelligence

The simulation of human intelligence processes by machines, especially computer systems, which includes learning, reasoning, and self-correction capabilities.

Voice Recognition

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Virtual Assistant

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