Which of the Following Is True About FASB Leasing Standards

question 19

Multiple Choice

Which of the following is true about FASB leasing standards?

• A) FASB standards are identical to GASB standards.
• B) FASB has three type of leases for lessees: sales type, direct financing and operating.
• C) FASB distinguishes between capital and operating leases.
• D) Governments have the option to follow the FASB standards.

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