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Your client provides an account detail for their Equipment Account (long-term asset), which includes 6 industrial sized steel presses that they use in producing their
Your client provides an account detail for their Equipment Account (long-term asset), which includes 6 industrial sized steel presses that they use in producing their inventory. After directly observing these items, you decide to examine the invoices related to their purchase. You notice that the equipment is held through operating lease agreements. What assertion should you be most concerned with?
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