When is a long-term lease called a finance lease? Why should the accountant record both an asset

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When is a long-term lease called a finance lease? Why should the accountant record both an asset and a liability in connection with this type of lease? What items should appear on the income statement as the result of a finance lease?

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Financial Accounting A Global Approach

ISBN: 9780395839867

1st Edition

Authors: Sidney J. Gray, Belverd E. Needles

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