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Which of the following is a correct statement of one of the classification tests? Question 5Select one: a. The lease transfers ownership of the property
Which of the following is a correct statement of one of the classification tests? Question 5Select one: a. The lease transfers ownership of the property to the lessor. b. The lease contains a purchase option. c. The lease term is equal to or more than 75% of the estimated economic life of the leased property. d. The lease payments equal or exceed 90% of the fair value of the leased property
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