Under an Operating Lease, Both the Leased Asset and the Liability

question 199

True/False

Under an operating lease, both the leased asset and the liability are shown on the balance sheet.

---

Definitions:

Transitional Words

Words or phrases that provide a connection between ideas, sentences, and paragraphs, helping to make writing coherent.

Series of Ideas

A sequence or set of concepts that are related or connected in some way.

First, Second

Terms denoting order or sequence, often used in classifications, stages, or degrees of categorization.

Passive-Voice Sentence

A sentence construction where the subject of the sentence is acted upon by the verb, often obscuring who or what is performing the action.