An Operating Lease Is Cancelable Because

question 59

Multiple Choice

An operating lease is cancelable because:

• A)the asset is easily broken or damaged.
• B)the lessee typically is uncertain about his use needs for the asset.
• C)the lessor may need the asset for some other purpose.
• D)the lessee is not a good credit risk.

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Definitions:

Obstructed

Blocked.

Emergency

A sudden, unforeseen situation requiring immediate action to prevent a dangerous scenario, harm, or property damage.

Urgent

Requiring immediate action or attention, often due to a critical or emergency situation.

Emergency Preparedness

The process of planning and implementing procedures to protect individuals and communities in the event of natural disasters, accidents, or other emergencies.