In order for a lease to be considered a finance (or capital) lease, international accounting standards require that a lease agreement
a. transfers substantially all risks and rewards incident to ownership of an asset to the lessee.
b. contains a provision requiring transfer of title to the lessee by the end of the lease term.
c. provides that the term of the lease contract be longer than one year.
d. provides for a bargain purchase option.
A
You might also like to view...
Kristen is a prolific writer. She ________ a couple books of poetry and about a hundred short stories. Someday she ________ as famous as Edgar Allen Poe
A) was writing/will be B) has written/would be C) had written/would be D) has written/will be
Human Resource Accounting is work attributed to:
a. Tootell (2009) and Flamholz (2007). b. Weiss and Finn (2005). c. Brown (1996). d. Guest (2003).
Value proposition refers to a statement that describes the unique features of the firm's products and services
Indicate whether the statement is true or false
An information system interacts with its environment by:
A) processing data. B) receiving data. C) XML protocols. D) systems analysts. E) sending data.