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:

Coral Reefs

Marine structures made of the calcium carbonate skeletons of coral organisms, which are home to diverse ecosystems and protect coastlines from erosion.

Modern Locations

Contemporary or current places of interest or where specific events or activities occur.

Continental Crust

The Earth's outer layer comprising granite-rich, less dense rock that makes up the continents.

Oceanic Crust

The part of the Earth's crust that underlies the oceans, thinner and denser than the continental crust.