Non-refundable payments made in advance on operating leases may be amortized either over the term of the lease, or any other period consistent with the GAAP guidelines for amortizing intangible assets.

Question

Quizplus · Accepted Answer

Non-refundable payments made in advance on operating leases should be amortized over the term of the lease according to GAAP, not any other period.

Non-Refundable Payments Made in Advance on Operating Leases May Be