Quiz 15.81 – Types of Leases and Lease Accounting: Understanding Noncancelable Leases with Purchase Options

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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What type of lease will a lessor account for when a noncancelable lease includes an option to purchase a leased asset at a price that is reasonably certain, and the fair value of the asset exceeds the lessor's cost?

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  • Search Terms: a a(n): a) accounted an appears as asset asset's asset. at be by certain. contains cost exceeds exercise expected fair financing for guaranteed is lease lease. lease. b) lease. c) lease. d) leased lessor lessor's lower noncancelable of operating option price purchase reasonably sales-type so sufficiently than that the therefore, to value will
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