A Longer-Term, Fully-Amortized Lease Under Which the Lessee Is Responsible

question 267

Multiple Choice

A longer-term, fully-amortized lease under which the lessee is responsible for insurance, taxes, and upkeep, and which the lessee generally cannot cancel without penalty, is called a(n) :

• A) Open lease.
• B) Straight lease.
• C) Operating lease.
• D) Financial lease.
• E) Tax-oriented lease.