Lease disclosure requirements on the part of the lessor apply only to lessors whose predominant business activity is leasing.

Question

Quizplus · Accepted Answer

The statement is true because lease disclosure requirements on the part of the lessor apply only to lessors whose predominant business activity is leasing. This is because the Financial Accounting Standards Board (FASB) has determined that only lessors who are in the business of leasing should be required to disclose information about their leases.

Lease Disclosure Requirements on the Part of the Lessor Apply