For the lessee, an operating lease differs from a finance lease because: (select all that apply) it does not record interest expense it does not report a liability it results in greater volatility in income it does not capitalize the asset it does not record amortization expense A lease must meet which of the following criteria to be classified as an operating lease? (select all that apply) the asset must transfer ownership by the terms of the lease contract the PV of lease payments must be greater than 90% of the asset FMV the lease term must be greater than 70% of the asset useful life the lease contract may contain a bargain purchase option none of the other answers are correct