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I'm not an accountant, but "contractually obligated to pay" sounds like a debt to me. If the Generally Accepted Accounting Principles don't require that to man
by jfengel 11mo ago
I'm not an accountant, but "contractually obligated to pay" sounds like a debt to me.
If the Generally Accepted Accounting Principles don't require that to manifest on the balance sheet, then it sounds like the principles aren't very good ones.
- CPLX 11mo agoIt’s not though. Signing a lease isn’t debt. If you rent an apartment you haven’t taken out a loan from your landlord. Being conceptually similar isn’t the same thing as identical.