All of the following statements about lease accounting under IFRS are true except:
A. the IFRS leasing standard is IAS 17, first issued in 1982.
B. IFRS is more general in its lease accounting provisions than is U.S. GAAP.
C. the IFRS leasing standard, IAS 17, is the subject of only three interpretations.
D. IFRS requires a year-by-year breakout of payments related to leasing arrangements
Ans: B. IFRS is more general in its lease accounting provisions than is U.S. GAAP.
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