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All of the following are among ground rules that have proven widely useful to project teams EXCEPT:
Capital Lease
A lease classified as a purchase by the lessee, allowing for the asset and liability to be recorded on the balance sheet.
Depreciation Expense
The allocation of the cost of a tangible asset over its useful life, recognizing the decrease in value over time.
Lease Payments
Regular payments made by a lessee to a lessor for the use of an asset over a specified period.
Lease Inception
The point at which the lease agreement is executed, signifying the beginning of the lease term.
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