All of the Following Statements Are True Except

question 20

Multiple Choice

All of the following statements are true except:

• A) The criteria to determine whether a lease contract should be considered a capital lease are applied in a more rigid way under U.S.GAAP than IFRS.
• B) The criteria to determine whether a lease contract should be considered a capital lease are applied in a more rigid way under IFRS than U.S.GAAP.
• C) The lease criteria under IFRS are to be used as guidelines rather than rules.
• D) IFRS requires more accounting judgment than U.S.GAAP in the determination of whether a lease is classified as an operating lease or a capital lease.

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Definitions:

Operations Chart

A chart depicting right- and left-hand motions.

Right-Hand/Left-Hand Chart

A visual tool used to analyze the workflow and ergonomics in tasks, indicating actions done by the right and left hands to improve efficiency and reduce fatigue.

Idle Time

Periods when resources, such as machinery or employees, are available but not in use due to a lack of work or inefficient scheduling.

Kanbans

Signaling systems used in just-in-time (JIT) production processes to regulate the flow of materials between different stages of production.