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Able sold its headquarters building at a gain and simultaneously leased back the building. The...

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Question

Accounting

Able sold its headquarters building at a gain and simultaneously leased back the building. The lease met the criteria for a finance lease. At the time of sale, the gain should be reported as

Group of answer choices:

Operating income.

A separate component of stockholder's equity.

No gain reported.

Deferred gross profit.

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