Which of the Following Is (Are)NOT Correct Regarding Disclosure Requirements

question 53

Multiple Choice

Which of the following is (are) NOT correct regarding disclosure requirements lessees?
I.For capital leases,future minimum lease payments in the aggregate and for each of the succeeding five years must be disclosed.
II.For operating leases with initial or remaining lease terms in excess of one year,future minimum rental payments in the aggregate and for each of the five succeeding fiscal years must be disclosed.
III.For capital leases,future minimum lease payments for each of the succeeding five years must be disclosed.
IV.
For operating leases with initial or remaining lease terms in excess of one year,future minimum lease payments for each of the five succeeding fiscal years must be disclosed.

• A)I only
• B)II only
• C)Both I and II
• D)Both III and IV

---

Definitions:

Day

A unit of time equal to 24 hours, representing the period it takes for the Earth to complete one full rotation on its axis.

Poverty Rate

The percentage of the population whose income falls below the poverty line, indicating their inability to meet basic needs.

Americans

Citizens or nationals of the United States, also referring collectively to the inhabitants of the country.

Food Stamps

is a government assistance program that provides low-income individuals and families with funds to purchase groceries, formally known as the Supplemental Nutrition Assistance Program (SNAP).