Unformatted text preview: asset at the end of the lease term, at a cost substantially lower than its estimated fair market value at that time. According to the Financial Accounting Standards Board, if a non-cancelable lease has a bargain-purchase option, it must be classified as a capital lease. (More Understandable Definition)...
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- Spring '11
- bargain purchase option, Financial Accounting Standards Board, **Bargain purchase option