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Multiply using the rule for the product of the sum and difference of two terms. Assume any variable exponents represent whole numbers.
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Leveraged Lease
A financial lease where the lessor borrows a substantial fraction of the cost of the leased asset.
Firm's Balance Sheet
A document detailing a firm's assets, liabilities, and equity owned by shareholders at a certain moment.
Generally Accepted Accounting Principles
The common set of accounting principles, standards, and procedures that companies use to compile their financial statements.
Lessee
The user of an asset in a leasing agreement. The lessee makes payments to the lessor.
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