For an operating lease, the lessee will record a(n) ________ and an associated lease liability on the balance sheet.
A) intangible asset
B) capital adjustment
C) contra-liability account
D) right-of-use asset

Question

Quizplus · Accepted Answer

In an operating lease, the lessee records a right-of-use asset and a corresponding lease liability on the balance sheet, reflecting the right to use the leased asset over the lease term.

For an Operating Lease, the Lessee Will Record A(n) ________