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What is the objective of lease classification criteria

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Reference no: EM131818452

Question - "FASB Codification, Professional Research

Need help with answering these questions and providing Codification References.

1. What is the objective of lease classification criteria?

2. An important element of evaluating leases is determining whether substantially all of the risk and rewards of ownership are transferred in the lease. How "Substantially all" defined in the authoritative literature?

Reference no: EM131818452

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