A Short-Term Lease

question 124

Multiple Choice

A short-term lease:

• A) Must be accounted for by the short-cut method if using U.S. GAAP.
• B) Is defined as having a value of $10,000 or less.
• C) Is defined as having a lease term of fifteen months or less.
• D) Not required to be accounted for by the short-cut method if using IFRS.