Identify whether the following are characteristics relevant to the classification of a lease as a finance (capital)
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Identify whether the following are characteristics relevant to the classification of a lease as a finance (capital) lease for the lessor.
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a. b. C. d. c. f. Present value of minimum lease payments comprise at least 75% of the fair value of the leased asset (under ASPE). Present value of lease payments comprise substantially all of the fair value of the lease asset. The lease is a lease of land. The lease contains a bargain purchase option. The lease term comprises a major part of the economic life of the asset. The lease term comprises at least 75% of the economic life of the asset (under ASPE). Yes/No
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