Explain when disclosure is required and what

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Unformatted text preview: her cash or rent payable. If an operating lease has scheduled changes in rent, normally the rent must be expensed on a straight line basis over its life, with a deferred liability or asset reported on the balance sheet for the difference between expense and cash outlay. 3- 6 Describe what conditions must be met for a loss of contingency to be accrued with a c...
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