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A necessary condition for a sales - type lease is: Multiple Choice Legal title to the asset transfers to the lessee. The present value of
A necessary condition for a salestype lease is:
Multiple Choice
Legal title to the asset transfers to the lessee.
The present value of lease payments exceeds the lessors cost
The lessor earns selling profit instead of interest revenue.
The lessee considers the lease to be a finance lease.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
