Under the provisions of ASU 2016-02
A)Accounting by lessors for leases is virtually unchanged from what was required by SFAS No.13
B)Accounting by lessees for leases is virtually unchanged from what was required by SFAS No.13
C)Accounting by lessors for leases re is significantly changed from what was required by SFAS No.13
D)Accounting by lessees and lessors for leases is virtually unchanged from what was required by SFAS No.13.

Question

Quizplus · Accepted Answer

ASU 2016-02 primarily changed lessee accounting by requiring most leases to be recognized on the balance sheet, while lessor accounting remained largely unchanged from SFAS No. 13.

Under the Provisions of ASU 2016-02