Which One of the Following Statements About fiNancial Leases Is

question 104

Multiple Choice

Which one of the following statements about financial leases is correct?

• A) Financial leases are fully amortized.
• B) Financial leases are NOT capitalized.
• C) Financial leases are NOT recorded on the balance sheet.
• D) Financial leases are generally short-term leases.
• E) Financial leases may be cancelable by the lessee on short notice.

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