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help asp! For a contract to be classified as a lease, which of the following criteria must be met at the inception of the contract?
help asp!
For a contract to be classified as a lease, which of the following criteria must be met at the inception of the contract? 1. The asset must be PP&E 2. The asset must be specified in the contract, either explicitly or implicitly, with enough information to recognize the distinct asset 3. The asset must be PP&E and includes intangibles and natural resources. O 1, 2, & 3 O none of the above have criteria have to be met O 1&3 only O 1& 2 only Step by Step Solution
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