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In a finance lease: Multiple Choice the lessee records an asset and a liability for the...

In a finance lease:

Multiple Choice

  • the lessee records an asset and a liability for the present value of lease payments.

  • the lessor records an asset and a liability for the present value of lease payments.

  • the lessee records an asset and a liability for the total of the lease payments.

  • the lessor records an asset and a liability for the total of the lease payments.

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