Which of the Following Is a Financial Disclosure That a Lessee

question 12

Multiple Choice

Which of the following is a financial disclosure that a lessee must make on its financial statements?

• A) the amount of actual interest expense for capital leases
• B) a specific description for each lease contract
• C) future minimum lease payments for the next ten years
• D) the leased assets included in property, plant, and equipment

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Definitions:

Accounts Receivable

Money owed a company by its clients or customers who have promised to pay for the products at a later date.

Commercial Paper

A written promise from one company to another to pay a specific amount of money.