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askhat9 askhat9
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Posts: 205
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6 years ago
In a sale and leaseback situation
A) all gains and losses are deferred and amortized by the seller
B) if the present value of the lease payments is equal to or less than 90% of the fair value of
the property, the lessee recognizes the entire gain or loss on sale immediately
C) the lessee immediately recognizes any loss on sale up to the amount of the difference
between carrying value and fair value
D) the lessor recognizes all losses on the sale immediately but must defer and amortize all
gains
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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hauser27584hauser27584
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#1
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6 years ago
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askhat9 Author
wrote...

6 years ago
Just got PERFECT on my quiz
husne
wrote...

Yesterday
Thanks for your help!!
deathwing
wrote...

2 hours ago
this is exactly what I needed
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