easy · Financial Accounting liabilities-bonds-payable
Which of the following is NOT one of the five criteria used by a lessee to classify a finance lease under ASC 842?
- The lease contains a purchase option the lessee is reasonably certain to exercise.
- Transfer of ownership at the end of the term.
- The underlying asset is so specialized it has no alternative use to the lessor.
- The lease payments are variable based on future sales.
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