Which of the following describes the lease term test? If the lease term is 75% or more of the economic life, it is a finance lease. If there is a bargain purchase option during the lease term, it is a finance lease. If the lease term is 90% or more of the economic life, it is a finance lease. If the asset has an alternative use during the lease term, it is a finance lease.
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Which of the following describes the lease term test? If the lease term is 75% or more of the econom...
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