Leases are categorized by the lessee as $($select all true options$)$

right of use

operating

finance

capital

Question $2$

Which is the following is not a lease classification test indicating the lease is a finance $($sales$-$

type$)$ lease?

a bargain purchase option $($that the lessee is reasonably certain to exercise$)$

a lease term for a major part of the asset's remaining useful life

lease payments whose present value is substantially all the fair value of the asset

a transfer of ownership to the lessor at the end of the lease