Which of the Following Accounts Would Not Appear on the Balance

question 94

Multiple Choice

Which of the following accounts would not appear on the balance sheet of a lessee company recording a long-term lease?

• A)accumulated depreciation on the leased asset
• B)capital lease liability in the current liability section
• C)capital leases liability in the long-term liability section
• D)rent expense on the income statement

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Definitions:

Gratification

Gratification is the satisfaction or pleasure one feels when their desires or needs are fulfilled.

Pleasure Seeking

The drive or effort to obtain enjoyment or gratification, often through activities that are satisfying or enjoyable.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Unconsciously

Pertaining to processes that occur without conscious awareness or control.