Question

Ind as the classifications of a lease as either an operaing or finance lease is based on

Answer 1

Answer:

Explanation:

Although the legal form of a lease agreement is that the lessee may acquire no legal title to the leased asset, in the case of finance leases the substance and financial reality are that the lessee acquires the economic benefits of the use of the leased asset for the major part of its economic life in return for ...