In the USA, a lease that does not legally constitute a purchase although the leased asset should be recorded as an asset on the lessee's books if any one of the following four criteria is met:

● the lease transfers ownership of the property to the lessee at the end of the lease term;

● a bargain purchase option exists; i.e. an option exists enabling the lessee to buy the leased property at the end of the lease for a minimal amount or to renew the lease for a nominal rental (a bargain renewal option);

● the lease term is 75% or more of the life of the property:

● the present value of minimum lease payments equals or exceeds 90% of the fair value of the property.

See also:

finance lease.

• punter
• purchased goodwill
• purchased life annuity
• purchase fund
• purchasing power
• purchasing power parity
• pure endowment assurance
• pure play
• pure risk
• put-call parity
• put-call ratio
• put-of-more option
• put option
• puttable bonds
• put-through
• pya
• PYB
• pyramiding
• qindar
• Q ratio
• qualified acceptance
• qualified audit report
• qualified stock option
• qualifying distribution
• qualifying loss