Which of the following is not a condition that would require the recording of a lease contract as a capital lease for a company reporting
Which of the following is not a condition that would require the recording of a lease contract as a capital lease for a company reporting under ASPE?
The lease transfers ownership of the property to the lessee.
The present value of the lease payments equals or exceeds 90% of the fair market value of the leased property.
The lease term is less than 75% of the economic life of the leased property.
The lease term equals the assets useful life.
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Authors: Contemporary Accounting Issues
1st Edition
9780324107845
