The ________ Look, Consisting of Practical, Comfortable, and Timeless (Vs

question 72

Multiple Choice

The ________ look, consisting of practical, comfortable, and timeless (vs. trendy) clothing, is often identified with the upper social class and emulated by lower classes.

• A) preppy
• B) WASP
• C) strata
• D) symbolic
• E) downscale

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Definitions:

Capital Leases

A lease that transfers substantially all risks and rewards of ownership of the asset to the lessee, effectively treated as a purchase.

Operating Leases

Leases where the lessor retains ownership of the asset, and the asset is returned after the lease term; typically involves equipment and property.

Direct Financing Capital Lease

A type of lease in which the lessor finances the leased asset, and all risks and rewards of ownership are transferred to the lessee, without actual transfer of ownership.

Finance Lease

A type of lease in which the lessee effectively takes on all the risks and rewards of ownership, though legally the asset remains owned by the lessor.