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 a minor portion of the economic life of the leased property.
D) The present value of the lease payments represents substantially all of the fair value of the leased property.
Correct Answer:
Verified
Correct Answer:
Verified
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