In What Way Does the IASB Standard on Leases (IAS

question 50

Multiple Choice

In what way does the IASB standard on Leases (IAS 17) differ from U.S.GAAP?

• A)It is less specific than U.S.GAAP in terms of defining what constitutes a finance lease.
• B)U)S.GAAP requires more professional judgment in accounting for leases than does IAS 17.
• C)IAS 17 is more specific than U.S.GAAP in defining an operating lease.
• D)Operating leases are capitalized under IAS 17 but are not capitalized under U.S.GAAP

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