The lease agreement transfers ownership to the lessee before the lease expires
The lessee can purchase the asset for a bargain price when the lease expires
The lease lasts for at least 75% of the asset's estimated economic life
The present value of the lease payments is at least 90% of the asset's value
the above 4 are correct
The lessee can purchase the asset at fair market value when the lease expires is incorrect because lessee can buy asset at less than fair value
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