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Basic Question 1 of 15
According to U.S. GAAP, a lease may be classified by a lessor as a(n) ______.
B. operating lease or a direct financing lease
C. operating lease, direct financing lease, or a sales-type lease
A. operating lease or a sales-type lease
B. operating lease or a direct financing lease
C. operating lease, direct financing lease, or a sales-type lease
User Contributed Comments 1
| User | Comment |
|---|---|
| kalps | 1. Classify as operating or capital lease 2. Then if capital then it is classified as a sales-type or direct financing lease |
I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt
Learning Outcome Statements
explain the financial reporting of leases from the perspectives of lessors and lessees
CFA® 2024 Level I Curriculum, Volume 2, Module 8.