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Which of the following is a correct statement of one of the classification tests? ...

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Accounting

Which of the following is a correct statement of one of the classification tests?
The lease payments (excluding executory costs) equal or exceed 90% of the fair value of the leased property.
The lease term is equal to or more than 75% of the estimated economic life of the leased property.
The underlying asset is general in nature.
The lease contains a purchase option.
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