单词 | economic life provision |
释义 | economic life provisionDefinition One of the four capitalization standards established by the US Financial Accounting Standards Board (FASB) for determining the status of non-cancelable leases. It requires that the lease term must be 75 percent or more of the estimated economic life of the leased item, if the lease is to be capitalized. The other three standards are Bargain Purchase provision, title transfer provision, and value recovery provision. |
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