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foxrcng11 foxrcng11
wrote...
Posts: 130
6 years ago
Which of the following statements best describes the finance lease guidelines under
ASPE from the lessees point of view?
A) The lease term must be at least 75% of the assets life.
B) The present value of the minimum lease payments must be equal to 90% or more of the
assets fair value.
C) The criteria for finance leases is met if either A or B are met.
D) The criteria for finance leases are met if A AND B are met.
Textbook 
Intermediate Accounting, Volume 2

Intermediate Accounting, Volume 2


Edition: 5th
Authors:
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Replies
wrote...
6 years ago
A
foxrcng11 Author
wrote...
6 years ago
Just confirmed the same answer from my friend, thanks
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