A Finance Lease Is a Special Type of Lease Transaction

question 44

True/False

A finance lease is a special type of lease transaction that generally involves three parties instead of two.

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Definitions:

Service Charge

A charge imposed to cover expenses associated with the main product or service being acquired.

Adjusted Cash Balance

The cash amount shown on a company's books after adjustments have been made for checks written or deposits in transit.

Check Register

A record kept by an account holder of checks written and deposits made into their checking account.

Outstanding Deposits

Funds that have been deposited but not yet credited to the depositor's account or cleared by the bank.