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Describe and demonstrate the lessee right-of-use approach

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Question -

1) Describe and demonstrate the lessee's right-of-use approach to accounting for a lease? How is the lessor's performance obligation recorded?

2) Describe lease disclosure requirements. Why are these disclosures important to financial statement readers?

3) What are the criteria necessary for an operating lease and sales-type lease? Which one is most advantageous to a small company with limited resources and why?

Reference no: EM133051562

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