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Distinguishing between a rental and a financed purchase is difficult in practice. Initially the FASB instituted bright line tests which firms then used to structure
Distinguishing between a rental and a financed purchase is difficult in practice. Initially the FASB instituted bright line tests which firms then used to structure leases to get the accounting they wanted. Now the FASB says all leases are financed purchases. In either case we likely have errors why?
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A History Of Accountancy In The United States
Authors: Gary John Previts, Barbara Dubis Merino
98th Edition
0814207286, 978-0814207284
