1. ASC guidance provides a rule of thumb for determining whether the lease term spans a...

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1. ASC guidance provides a rule of thumb for determining whetherthe lease term spans a major part of the remaining economic life ofthe asset. What is that rule of thumb?
2. ASC guidance provides a rule of thumb for determining whetherthe sum of the present value of lease payments and present value ofLessee guaranteed residual value equals or exceeds substantiallyall of the fair value of the asset. What is that rule of thumb?
SITE ASC FOR BOTH

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1 ASC guidance provides a rule of thumb for determining whether the lease term spans a major part of the remaining economic life of the asset What is that rule of thumb This is the third criterion test out of a toatl of 4in the process of deciding whether the lease is to be classified accounted as a capitalfinance lease or an operating lease by the lessee Apart from other 3The ASC 842 vide See Answer

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1. ASC guidance provides a rule of thumb for determining whetherthe lease term spans a major part of the remaining economic life ofthe asset. What is that rule of thumb?2. ASC guidance provides a rule of thumb for determining whetherthe sum of the present value of lease payments and present value ofLessee guaranteed residual value equals or exceeds substantiallyall of the fair value of the asset. What is that rule of thumb?SITE ASC FOR BOTH