Which of the Following Accounts Would Not Appear on the Balance

question 94

Multiple Choice

Which of the following accounts would not appear on the balance sheet of a lessee company recording a capital lease?

• A)accumulated depreciation on the leased asset
• B)capital lease liability in the current liability section
• C)capital leases liability in the long-term liability section
• D)rent expense on the income statement

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Definitions:

Stable

Characterized by consistency, reliability, and a lack of significant change or volatility over time.

Normative Life Events

In the timing-of-events model, commonly expected life experiences that occur at customary times.

Social Clocks

Societal expectations regarding the appropriate timing for major life milestones, such as education, marriage, parenthood, and retirement.

Society's Expectations

The norms, values, and roles that a community anticipates its members to adhere to.