question archive A company must capitalize any lease lasting more than a year by reporting it on the balance sheets as a liability and as an asset
A company must capitalize any lease lasting more than a year by reporting it on the balance sheets as a liability and as an asset
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A company must capitalize any lease lasting more than a year by reporting it on the balance sheets as a liability and as an asset.
a. True
b. False
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True.
Managing leases according to the up to date accounting standards update, that all leases over a period of more than one year should be capitalized and demands to be documented as equal and offsetting assets and liabilities.
Hence, the correct answer is true.
