Under the Provisions of ASU 2016-02,which of the Following Is

question 19

Multiple Choice

Under the provisions of ASU 2016-02,which of the following is not required in a lease modification when the lease payments re required to be remeasured?

• A)Any variable lease payments that are based on a rate or index will need to be remeasured.
• B)The total lease liability is remeasured
• C)The remeasured lease must be subsequently recorded as an operating lease
• D)The lessee is generally required to use an updated discount rate.

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Definitions:

Federal Trade Commission

The Federal Trade Commission is a U.S. federal agency established to protect consumers and promote competition by preventing anticompetitive, deceptive, and unfair business practices.

Unfair Practices

Business actions that are dishonest, deceptive, or not in accordance with established legal and ethical standards.

Public Hearings

Formal meetings held by governmental bodies to allow the public to express opinions and provide input on proposed regulations, projects, or decisions.

AT&T Case

Refers to a landmark antitrust case against the American Telephone & Telegraph Company, leading to the breakup of its monopoly in the telecommunications industry.