Examlex
List and describe the basic characteristics of the four models of power in society presented in the text.
Capital Lease
A lease classified as a financial transaction where the lessee effectively buys an asset and finances it over the lease term.
Operating Lease
An agreement that permits the utilization of an asset without owning it, usually with a shorter duration than a finance lease.
Fair Value
What one would earn from selling an asset or what it would cost to shift a liability in a systematic operation with market actors on the appraisal date.
Guaranteed Residual Value
The predetermined value of a leased asset at the end of the lease term, guaranteed by the lessee or a third party.
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