Almost All Leases Lasting More Than a Year Must Be

question 19

Multiple Choice

Almost all leases lasting more than a year must be included in the balance sheet by reporting the

• A) residual value as a liability.
• B) present value of future lease payments as an asset and also showing this same amount as an offsetting liability.
• C) undiscounted sum of future lease payments as an asset and as an offsetting liability.
• D) undiscounted sum of future lease payments, less the residual value, as an asset and as an offsetting liability.
• E) residual value as a fixed asset.

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