Accounting for leases is important to all EXCEPT the following:
A) U.S. Congress.
B) leasing companies.
C) financial institutions.
D) companies who purchase assets outright.

Question

Quizplus · Accepted Answer

Companies who purchase assets outright do not need to account for leases as they do not enter into lease agreements. The U.S. Congress, leasing companies, and financial institutions are all stakeholders who are affected by accounting for leases.

Accounting for Leases Is Important to All EXCEPT the Following