GASB Statement No 87 Requires Specifies Which of the Following

question 37

Multiple Choice

GASB Statement No 87 requires specifies which of the following

• A) Leases one year or more in length must be accounted for as a financing lease
• B) The lessee account for the lease as if it had purchased the rights to the asset and borrowed the purchase price.
• C) The treatment of leases of buildings, land and equipment, but excludes the treatment of intangible assets
• D) All of the above.

---

Definitions:

Factor III

Also known as tissue factor, a protein involved in the initiation of blood clotting by activating the extrinsic pathway.

Factor VII

A blood coagulation factor involved in the initiation of the clotting process.

Factor X

A clotting factor, also known as Stuart-Prower factor, that is crucial in the coagulation cascade leading to blood clotting.

Factor XII

A clotting factor involved in the initiation of the blood coagulation cascade.