- CFA Exams
- CFA Exam: Level I 2021
- Study Session 8. Financial Reporting and Analysis (3)
- Reading 28. Non-current (Long-term) Liabilities
- Subject 7. Lease Classification
CFA Practice Question
According to U.S. GAAP, a lease may be classified by a lessee as a(n) ______.
B. leveraged lease or a capital lease
C. operating lease or a capital lease
A. operating lease or a sales-type lease
B. leveraged lease or a capital lease
C. operating lease or a capital lease
Correct Answer: C
For the lessee, leases are classified as either capital leases or operating leases.
User Contributed Comments 2
| User | Comment |
|---|---|
| lynche2012 | finance lease = capital under IFRS |
| khalifa92 | informative |