Question
Which of the following is not a qualifier for a lease to be considered a finance lease under ASC 842? Multiple Choice A)The lease grants
Which of the following is not a qualifier for a lease to be considered a finance lease under ASC 842? Multiple Choice
A)The lease grants an option to purchase that is reasonably certain to occur.
B)The lease term is for the major part of the remaining economic life of the asset.
C)The lease transfers ownership at the end of the lease.
D)The asset is not a specialized asset and will have alternative use to the lessor.
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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
