Under the pre-2019 standards, GAAP identifies two approaches for the reporting of leases by the leasee. Explain the accounting treatment for the two types of types of leases. Is one preferable to the other? Explain.

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The Answer of Under the pre-2019 standards, GAAP identifies two approaches for the reporting of leases by the leasee. Explain the accounting treatment for the two types of types of leases. Is one preferable to the other? Explain.

Under the Pre-2019 Standards, GAAP Identifies Two Approaches for the Reporting