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Home Q & A Board Other Fields Homework Help Business Accounting
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Benefits Benefits
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5 years ago
For a finance lease, an amount equal to the present value at the beginning of the lease term of
minimum lease payments during the lease term, excluding that portion of the payments
representing executory costs such as insurance, maintenance, and property taxes to be paid by the
lessor, together with any profit thereon, should be recorded by the lessee as a(n):
A) expense.
B) asset but not a liability.
C) liability but not an asset.
D) asset and a liability.
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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JodiasJodias
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Benefits Author
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5 years ago
Brilliant
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