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We classify a lease as a finance lease if: Multiple Choice the present value of lease payments is less than the asset's fair value.
We classify a lease as a finance lease if: Multiple Choice the present value of lease payments is less than the asset's fair value. the present value of lease payments is less than the asset's book value. the usual risks and rewards are retained by the lessor. the lessee obtains control of the use of the asset.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher, Philip Olds, Frances McNair, Bor
4th edition
77862376, 978-0077862374
