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1. List the codification section (ASC) that addresses lease criteria 2. Define: Operating lease, Capital lease direct financing lease and sales-type lease (cite ASC sections)
1. List the codification section (ASC) that addresses lease criteria
2. Define: Operating lease, Capital lease direct financing lease and sales-type lease (cite ASC
sections)
3. List the four criteria to consider when deciding whether to capitalize a lease (cite ASC section)
4. If this is (or was) an operating lease what is the journal entry at the inception of the lease?
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