Which of the Following Statements About Capital Leases Is Incorrect

question 56

Multiple Choice

Which of the following statements about capital leases is incorrect?

• A)Under a capital lease, the lessee's books do not report the leased asset.
• B)A capital lease is non- cancellable.
• C)A capital lease is a long- term financial obligation.
• D)Under a capital lease, the lessee records a lease liability at the beginning of the lease term.

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Definitions:

Caloric Intake

The total amount of calories consumed through eating and drinking, integral to managing energy balance and nutritional health.

Restaurants

Establishments that prepare and serve food and beverages to customers in exchange for money, varying widely in appearance and offerings.

Daily

Refers to events or actions occurring every day or on a day-to-day basis.

Breast Feed

The act of feeding a baby with milk directly from the mother's breast.