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Adv. Acct 1 - Test 3 Review Flashcards | StudBud
Adv. Acct 1 - Test 3 Review
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Which of the following describes the lease term test?
A
If the asset has an alternative use during the lease term- finance lease.
B
Bargain purchase option during the lease term- finance lease.
C
If the lease term is 75% or more of the economic life- finance lease.
D
If the lease term is 90% or more of the economic life-finance lease.
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