A short-term lease:

A) is defined as having a lease term of fifteen months or less.
B) must be accounted for by the short-cut method if using U.S. GAAP.
C) not required to be accounted for by the short-cut method if using IFRS.
D) is defined as having a value of $10,000 or less.

Short term lease is defined as having a lease term of six months or less. It is not required to be accounted for by the shortcut method when using IFRS.

Short term lease are often based on month to month rental agreement, which can be renewed at the end of the month. It could be in form of rental agreement or car rental, they are expensive compare to long term lease.

A short-term lease: A) is defined as having a lease term of fifteen months or less. B) must be accounted for by the short-cut method if using U.S. GAAP. C) not required to be accounted for by the short-cut method if using IFRS. D) is defined as having a value of $10,000 or less.

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A short-term lease:

A) is defined as having a lease term of fifteen months or less.
B) must be accounted for by the short-cut method if using U.S. GAAP.
C) not required to be accounted for by the short-cut method if using IFRS.
D) is defined as having a value of $10,000 or less.