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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) ______.

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
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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!


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.