Which of the Following Would Not Be a Characteristic of a Financial

question 6

Multiple Choice

Which of the following would not be a characteristic of a financial lease?

• A) They are usually fully amortized.
• B) They usually require the lessor to maintain and insure the leased assets.
• C) They usually do not include a cancellation option.
• D) The lessee usually has the right to renew the lease at expiration.

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Definitions:

Services

Intangible products or activities provided by one party to another, often involving a time-based performance to meet needs or bring benefits to recipients.

Canadian Dollar

The currency of Canada, represented by the symbol CAD or simply $ within Canada.

U.S. Dollar

The official currency of the United States, often used as a standard unit of currency in international markets due to its widespread acceptance.

Canadian Exports

Canadian exports refer to goods or services that are produced in Canada and sold to buyers in other countries.