Question: We classify a lease as a finance lease if: Multiple Choice the present value of lease payments is less than the asset's fair value.

We classify a lease as a finance lease if: Multiple Choice the

We classify a lease as a finance lease if: Multiple Choice the present value of lease payments is less than the asset's fair value. the present value of lease payments is less than the asset's book value. the usual risks and rewards are retained by the lessor. the lessee obtains control of the use of the asset.

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