In a Sale-Leaseback Transaction Where None of the Four Leasing

question 43

Multiple Choice

In a sale-leaseback transaction where none of the four leasing criteria are satisfied, which of the following is false?

• A)The seller-lessee removes the asset from its books.
• B)The purchaser-lessor records a gain.
• C)The seller-lessee records the lease as an operating lease.
• D)All of the above are false statements.