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Under the pre-2020 accounting standards, GAAP identifies two different approaches in the reporting of leases...

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Accounting

Under the pre-2020 accounting standards, GAAP identifies two different approaches in the reporting of leases by the lessee: capital and operating Which of the following best describes the effects of leasing on the financial statements of the lessee?

A. Lease Type :Capital Assets: Increased Liabilities: Increased Expenses: Rent

B. Lease Type: Capital Assets: None Liabilities: nones expense :Rent

C. Lease Type: Operating Assets:Increased Liabilities:Increased Expenses:Depreciation and Interest

D. Lease type: operating Assets: None Liabilities: None Expenses: Rent

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