Which of the Following Statements Is Not True of a Financial

question 65

Multiple Choice

Which of the following statements is not true of a financial lease?

• A)It can be cancelled after the equipment is no longer needed
• B)It is a source of financing
• C)It is binding obligation for the lessee
• D)It lessee has the asset for most of its economic life

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Definitions:

Vowel

A letter of the alphabet representing a speech sound made without significant constriction of the flow of air from the lungs.

Combining Forms

Parts of words (often derived from Greek or Latin) that carry specific meanings and are used in the construction of medical and scientific terminology.

Suffix

A linguistic element added to the end of a word to form a derivative or change its grammatical function.

Consonant

A speech sound produced by partially or completely obstructing the flow of air through the vocal tract, characterized by less resonance and more restriction than vowels.