Which of the Following Would Be Treated as a Rental

question 30

Multiple Choice

Which of the following would be treated as a rental agreement?

• A)Capital leases
• B)Operating leases
• C)Expense leases
• D)Revenue leases

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Definitions:

Partnership

A business arrangement where two or more individuals share ownership, profits, and liabilities of a business venture.

Consent

Agreement or permission given by a party for something to happen or be done.

Notice

A formal declaration or statement that informs parties of certain facts, obligations, or legal processes.

Partnership Firm

A business entity created when two or more individuals agree to share the profits and losses of a business venture.