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Describe three major differences between operating and financial leases, pointing out how these differences reflect varying lessor and lessee situations.
Business Quarters
Divisions of the fiscal year into four equal parts, typically three months each, used by businesses to report earnings and assess performance.
Demand-Pull Inflation
An economic condition where prices rise because the demand for goods exceeds supply.
Cost-Push Inflation
Inflation caused by an increase in the cost of production, such as higher raw material costs, which is passed on to consumers in the form of higher prices.
Creditors
Creditors are individuals, businesses, or institutions that lend money or extend credit to others, expecting repayment in the future.
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