In what way does the IASB standard on Leases (IAS 17)differ from U.S.GAAP?
A)It is less specific than U.S.GAAP in terms of defining what constitutes a finance lease.
B)U)S.GAAP requires more professional judgment in accounting for leases than does IAS 17.
C)IAS 17 is more specific than U.S.GAAP in defining an operating lease.
D)Operating leases are capitalized under IAS 17 but are not capitalized under U.S.GAAP

Question

Quizplus · Accepted Answer

IAS 17 is less specific than U.S. GAAP in defining a finance lease, as U.S. GAAP provides more detailed criteria for lease classification.

In What Way Does the IASB Standard on Leases (IAS