An Operating Lease Is One in Which

question 81

Multiple Choice

An operating lease is one in which:

• A) the lessee agrees to maintain the operating capability of the asset to a level specified by the lessor.
• B) the risks and benefits of ownership reside with the lessor.
• C) the lessee is required to maintain the leased asset according to an agreed maintenance schedule.
• D) the risks and benefits of ownership reside with the lessor and the lessee is required to maintain the leased asset according to an agreed maintenance schedule.

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