Question: GAAP list five criteria for determining when a lease should be classified as a finance lease by a lessee. Which of the following is a

GAAP list five criteria for determining when a lease should be classified as a finance lease by a lessee. Which of the following is a criterion? The lessee guarantees the residual value of the leased property. The present value of the lease payments equals or exceeds 75% of the fair value of the leased property The lease term equals the remaining estimated useful life of the leased property. The lease agreement provides for the transfer of ownership of the leased property

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