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HiI have purchased an assets having the useful ...

HiI have purchased an assets having the useful life of 10 years for 9 years on the agreement that...

Hi

I have purchased an assets having the useful life of 10 years for 9 years on the agreement that assets will be returned. Is it finance lease?

0
Jeeba Mar. 16, 2018

Yes, this will be the finance lease. This is because the lease will be classified as a finance lease, if a substantial portion of the life of the asset is covered by the lease term.

Hi

I have purchased an assets having the useful life of 10 years for 9 years on the agreement that assets will be returned. Is it finance lease?

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