Question: Multiple Choice Question Under ASC 8 4 2 , lessees would Multiple choice question. treat all leases with lease terms in excess of one year

Multiple Choice Question
Under ASC 842, lessees would
Multiple choice question.
treat all leases with lease terms in excess of one year as finance leases.
classify all leases as operating leases.
classify a lease as a finance lease when the lease term is more than 50% of the economic life.
treat leases as finance leases when the underlying asset is highly specialized.

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