Define the following terms, as used in lease accounting standards: - Bargain purchase option (BPO). - Lease
Question:
Define the following terms, as used in lease accounting standards:
- Bargain purchase option (BPO).
- Lease term.
- Minimum net lease payments.
- Contingent lease payments.
- Bargain renewal term.
- Guaranteed residual value.
- Incremental borrowing rate.
- Interest rate implicit in the lease.
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