Asked by
Praveena Pravi
on Nov 06, 2024
Verified
Which of the following is a short-term cancelable lease that does not show up on a balance sheet?
A) A capital lease
B) A serial bond
C) A transaction balance
D) A line of credit
E) An operating lease
Capital Lease
A lease agreement that grants a lessee the benefits and risks of ownership of the asset, typically recognized on the balance sheet.
Balance Sheet
A “snapshot” of an organization’s financial position at a given moment.
- Grasp the basics of lease agreements and their accounting implications.
Verified Answer
LB
Learning Objectives
- Grasp the basics of lease agreements and their accounting implications.