Which of the Following Statements Is FALSE

question 5

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:

Pay Equity

A principle ensuring that employees receive equal pay for work of equal value, regardless of gender, ethnicity, or other non-work-related factors.

Pay Equality

The principle that individuals doing the same job or work of equal value should receive the same compensation regardless of gender, race, or other non-relevant factors.

Canadian Human Rights Act

A statute of Canada that prohibits discrimination on the basis of race, color, religion, sex, age, and other grounds.

Canadian Human Rights Commission

A government agency responsible for monitoring and enforcing anti-discrimination laws in Canada.