The lessee records a capital lease as an asset and a liability at the:
A. present value of the minimum lease payments.
B. fair market value of the leased asset at the lease inception.
C. lower of the present value of the minimum lease payments or the fair market value of the leased asset.
D. total amount of the minimum lease payments.
Ans: C. lower of the present value of the minimum lease payments or the fair market value of the leased asset.
Business
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