Which of the Following Statements Is FALSE

question 35

Multiple Choice

Which of the following statements is FALSE?

• A)If the lease is deemed to be a true lease,the firm is assumed to have effective ownership of the asset and the asset is protected against seizure.
• B)Although the legal ownership of the asset resides with the lessor,in a non-tax lease the lessee receives the depreciation deductions.
• C)The treatment of leased property in bankruptcy will depend on whether the lease is classified as a security interest or a true lease by the bankruptcy judge.
• D)In a non-tax lease,the interest portion of the lease payment is interest income for the lessor.

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Definitions:

Following Employment

Refers to the activities or insights tracked or monitored after an individual has been hired in an organization.

Fringe Benefits

Additional benefits supplementing an employee's salary, such as health insurance, paid time off, and retirement plans, which can vary greatly between employers.

World War II

A global conflict that took place between 1939 and 1945, involving most of the world's nations.

Significant Addition

An impactful or major contribution that enhances or improves a project, process, or system.