Which of the following is not part of the 5 criteria provided in GAAP to...
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Accounting
Which of the following is not part of the 5 criteria provided in GAAP to differentiate between a finance lease and a sales-type lease?
A) The agreement specifies that title to the property is transferred at the end of the lease to the tenant.
B) Collection of lease payments is probable.
C) The agreement contains a purchase option that is reasonably possible for the lessee to exercise.
D) The contract period is for most of the useful life of the leased asset.
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