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Question 38 1 pts In accounting for lease contracts, companies reporting under U.S. GAAP are required to treat the cash
Posted: Sun Jun 05, 2022 8:07 pm
by answerhappygod
- Question 38 1 Pts In Accounting For Lease Contracts Companies Reporting Under U S Gaap Are Required To Treat The Cash 1 (19.88 KiB) Viewed 46 times
Question 38 1 pts In accounting for lease contracts, companies reporting under U.S. GAAP are required to treat the cash payments as "rent expense" if the contract is for 24 months or less. O do not need to capitalize the leased right-to-use asset if the contract is deemed immaterial. have the discretion to classify the cash payments as "rent expense". O have to disclose every detail of the contract in the footnotes to the financial statements.