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Operating Lease in Accounting: Definition, Calculation & Example Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which criteria is NOT one of the requirements to account for a lease as an operating lease?

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1. Why might a company enter into an operating lease?

2. Which transaction is LEAST LIKELY to be treated as an operating lease?

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About This Quiz & Worksheet

Use the quiz and worksheet to test what you know about operating lease in accounting. You will need to know specific topics like the required criteria to account for a lease and why a company would enter into an operating lease.

Quiz & Worksheet Goals

These resources can be used to:

  • Identify transactions treated as an operating lease
  • Recognize transactions most likely to receive operating lease accounting treatment
  • Determine entries posted for transactions that are accounted for as an operating lease

Skills Practiced

Use these study skills:

  • Critical thinking - apply relevant concepts to examine information about an operating lease in a different light
  • Interpreting information - verify that you can read information regarding why a company would enter into an operating lease and interpret it correctly
  • Information recall - access the knowledge you've gained regarding transactions treated as an operating lease

Additional Learning

Review this lesson entitled Operating Lease in Accounting: Definition, Calculation & Example to learn more about operating leases. This lesson will cover the following study guidelines:

  • Be able to explain an operating lease
  • Understand how you would account for an operating lease
  • Calculate figures stipulated in the lease
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