A fiNancial Lease Has Which as Its Primary Characteristics

question 33

Multiple Choice

A financial lease has which as its primary characteristics:

• A)is fully amortized, lessee maintains equipment and there is no renewal clause and no
• Cancellation clause.
• B)is not fully amortized, lessor maintains equipment and there is a renewal clause but no
• Cancellation clause.
• C)is fully amortized, lessor maintains equipment and there is a renewal clause and a no
• Cancellation clause.
• D)is not fully amortized, lessor maintains equipment and there is a renewal clause.
• E)is fully amortized, lessee maintains equipment and there is a renewal clause and a no
• Cancellation clause.

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Definitions:

Carnival Roulette Wheel

A gambling game found in carnivals and casinos, where players bet on which numbered or colored slot a spinning ball will land on.

Cost to Play

The amount of money required to participate in an activity, game, or to pursue a certain action.

Gain

An increase in wealth, assets, or value, often resulting from investment or business operations.

Lose

To be deprived of something one once had or to fail to win in a competition or conflict.