Porter Corporation NOTE: the Following Multiple Choice Questions Require Present

question 1

Multiple Choice

Porter Corporation NOTE: The following multiple choice questions require present value information.
On January 1,2012,Porter Corporation signed a five-year noncancelable lease for certain machinery.The terms of the lease called for:
What accounting method should Porter use to account for the equipment lease?

• A) Operating Lease method
• B) Capital Lease method
• C) Equipment Lease method
• D) Lessee Accounting method

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