Impact of Operating Leases on Financial Statements

Instructions:

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

question 1 of 3

In an operating lease, on the lease payment date, the balance sheet is _____.

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1. In an operating lease, on the specified payment date, the cash flow statement shows a(n) _____.

2. In an operating lease, on the payment date, the income statement is _____.

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About This Quiz & Worksheet

This study quiz and worksheet combo is designed to quiz your understanding of operating leases and finance statements. You'll be required to answer questions about topics like the balance sheet on a car lease payment and what a given cash flow statement shows.

Quiz & Worksheet Goals

For the quiz, you'll need to know about:

  • The payment date on a sample income statement
  • What operating leases can be compared to
  • Location of leased equipment's value on a balance sheet

Skills Practiced

  • Reading comprehension ensure that you draw the most important information from the related lesson on operating leases and finance statements
  • Information recall - access the knowledge you've gained regarding the information documented on a cash flow statement
  • Knowledge application - use your knowledge to answer questions about balance sheets and income statements

Additional Learning

Learn more about the use of financial documents via the lesson titled Impact of Operating Leases on Financial Statements. Topics are listed below:

  • Brief analysis of operating leases
  • Terms and details of leasing a car
  • Accounting with regard to the leasing of a car
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