Which of the following is not a condition that would require the recording of a lease contract as a capital lease for a company reporting under ASPE?
A) The lease transfers ownership of the property to the lessee.
B) The lease term equals the asset's useful life.
C) The lease term is less than 75% of the economic life of the leased property.
D) The present value of the lease payments equals or exceeds 90% of the fair market value of the leased property.
Correct Answer:
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