1. which of the following lease conditions would result in a capital lease to the...

60.1K

Verified Solution

Question

Accounting

1. which of the following lease conditions would result in a capital lease to the lessee?

a. the lessee will return the property to the lessor a the end of the lease term

b. the lessee obtains enough rights to use the asset and is in substance the owner

c. the leased asset is not capitalized on the balance sheet.

d. the lease term is 70% of the property's economic life

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students