Which of the Following Statements Is False

question 31

Multiple Choice

Which of the following statements is false?

• A) The decision to lease is often driven by real-world market imperfections related to leasing's accounting, tax, and legal treatment.
• B) When publicly traded firms disclose leasing transactions in their financial statements, they must follow the recommendations of the Financial Accounting Standards Board (FASB).
• C) In its Statement of Financial Accounting Standards No. 13 (FAS13), the FASB provides specific criteria that distinguish a true tax lease from a non-tax lease.
• D) The categories used to report leases on the financial statements affect the values of assets on the balance sheet, but they have no direct effect on the cash flows that result from a leasing transaction.

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Definitions:

Cortical Blindness

A condition where a person has lost their ability to see due to damage to the visual area in the brain's cortex, despite having healthy eyes.

Occipital Lobe

The region of the brain located at the back of the head, responsible for visual processing.

Parietal Lobe

The region of the brain that processes sensory information such as touch, temperature, and pain, and is involved in spatial orientation and manipulation.

Temperature

A physical quantity expressing the subjective perceptions of hot and cold, measured with a thermometer.