Question: Answer this using intermediate accounting 3 by robles and empleo X company leased an asset to Y company for period of 5 years. X Company

Answer this using intermediate accounting 3 by robles and empleo

X company leased an asset to Y company for period of 5 years. X Company give Y the option to purchase the asset at the end of the lease term for an amount that approximates the market value of the leased asset at the end of the lease. X Company would account for the lease as a finance lease. a. true b, false

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