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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) ______.
B. operating lease or a direct financing lease
C. operating lease, direct financing lease, or a sales-type lease
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 |
I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
explain the financial reporting of leases from the perspectives of lessors and lessees
CFA® 2025 Level I Curriculum, Volume 2, Module 8.