Multiple Choice
One of the five criteria for a finance lease specifies that the present value of the lease payments be equal to or greater than:
A) substantially all of the cost of the asset.
B) the major part of the fair value of the asset.
C) substantially all of the fair value of the asset.
D) the major part of the cost of the asset.
Correct Answer:
Verified
Correct Answer:
Verified
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