When accounting for an operating lease,which one of the following accounts are charged with the expense on the lessee's income statement?
A)Depreciation Expense
B)Amortization Expense
C)Rent Expense
D)Lease Operating Expense

Question

Quizplus · Accepted Answer

The lessee's income statement will show Rent Expense for the operating lease. Depreciation Expense and Amortization Expense are associated with capital leases. Lease Operating Expense is not a recognized account in accounting standards but can be used by companies to group various lease-related expenses.

When Accounting for an Operating Lease,which One of the Following