An Operating Lease Can Best Be Defined As

question 248

Multiple Choice

An operating lease can best be defined as:

• A) A short term lease where the lessor is responsible for the insurance, tax and upkeep. Often cancellable on short notice.
• B) A longer term, fully amortized lease under which the lessee is responsible for the upkeep. Usually not cancellable without penalty.
• C) A financial lease in which the lessor is the owner for tax purposes.
• D) A financial lease in which the lessee sells an asset to the lessor and then leases in back.
• E) A financial lease where the lessor borrows a substantial of the cost of the leased asset.

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