Multiple Choice
Which of the following is not a condition which would require the recording of a lease contract as a finance lease?
A) The lease transfers ownership of the property to the lessee.
B) The lease contains a bargain purchase option.
C) The lease term is less than 75% of the economic life of the leased property.
D) The present value of the lease payments equals or exceeds 90% of the fair value of the leased property.
Correct Answer:
Verified
Correct Answer:
Verified
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