Quiz navigation Which one of the following would normally lead to a lease being classified as an operating lease? 1 2 3 4 5 6 a O a. The lease term is for a period of more than half of the expected economic life of the underlying asset. 10 11 12 13 14. 15 Finish attempt... Time left 1:29:14 O b. It is reasonably certain at the inception date that the lessee will exercise an option to purchase the underlying asset at the end of the lease term for a price substantially fower than its expected fair value. O c. The lease is cancellable, and all losses associated with the cancellation will be incurred by the lessee. O d. At the inception date of the lease agreement, the present value of the total lease payments is for an amount substantially less than the fair value of the underlying asset