One of the determinative criteria for a finance lease specifies that the lease term be equal to or greater than a. 75% of the economic life of the leased asset b. 50% of the economic life of the leased asset c. the economic life of the leased asset d. 90% of the economic life of the leased asset
One of the determinative criteria for a finance lease specifies that the lease term be equal to or greater than a. 75% of the economic life of the leased asset b. 50% of the economic life of the leased asset c. the economic life of the leased asset d. 90% of the economic life of the leased asset
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter20: Accounting For Leases
Section: Chapter Questions
Problem 6MC: In the third year of a 6-year finance lease, the portion of the lease payment applicable to the...
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One of the determinative criteria for a finance lease specifies that the lease term be equal to or greater than
a. 75% of the economic life of the leased asset
b. 50% of the economic life of the leased asset
c. the economic life of the leased asset
d. 90% of the economic life of the leased asset
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