Which of the Following Statements Regarding Leased Assets Is Incorrect

question 15

Multiple Choice

Which of the following statements regarding leased assets is incorrect?

• A) Accrual accounting recognises the economic value of the asset.
• B) Lease assets are amortised.
• C) The principal portion is deducted from the lease and the interest is an expense.
• D) The cost of the lease asset is not recorded in the balance sheet.

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