CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

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
Correct Answer: C

For the lessor, the lease is first classified as operating or capital. Then, if it is a capital lease, it is classified as either sales-type or direct financing 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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