Based solely upon the following sets of circumstances indicated below, which set gives rise to sales-type or direct-financing lease of a lessor? For a capital ease, an amount equal to the present value of the minimum lease payments should be recorded by the lessee as a(n): A. Expense B, Asset and a different amount should be recorded as a liability. C. Liability and a different amount should be recorded as an asset. D. Asset and a liability The four criteria provided in GAAP for distinguishing a capital lease from an operating do not include: A. The collectibility of the lease payments must be reasonably predictable B The agreement specifies that ownership transfers at the end of the lease term. C. The agreement contains a bargain purchase option. D. The noncancelable lease term is 75% or more of the useful life of the leased asset