Examlex
Conditional receipts are associated with life insurance rather than non-life insurance.
Capital Lease
A lease agreement in which the lessee essentially buys an asset and pays for it over time, classifying the lease as a financial transaction in the balance sheet.
Operating Lease
A contract that allows for the use of an asset but does not convey rights of ownership of the asset.
Assets And Liabilities
Represent the resources a company owns or controls (assets) and the obligations it owes to outsiders (liabilities).
Operating Lease
A lease agreement for the use of an asset where the lessor remains the owner, and the lessee does not record the asset on its balance sheet.
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