Question

How should assets under lease be specified in the classification of tangible assets?

a.

They should not be separately specified.

b.

They should be classified under "Others."

c.

They should be separately specified under each class of asset.

d.

They should be classified as a separate category.

Posted under IC 89 Management Accounting

Answer: (c).They should be separately specified under each class of asset. Explanation:Assets under lease should be separately specified under each class of tangible asset.

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Q. How should assets under lease be specified in the classification of tangible assets?
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