A Non-Cancellable Lease Is a Lease That Is Cancellable Only

question 30

Multiple Choice

A non-cancellable lease is a lease that is cancellable only:

• A) Upon the occurrence of some probable contingency.
• B) With the permission of the lessee.
• C) If the lessee enters into a new lease for the same or equivalent asset with the same lessor.
• D) Upon payment by the lessor of such an additional amount that, at inception of the lease, continuation of the lease is certain.
• E) All of the given answers.

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Definitions:

Renewable Resources

Natural resources that can be replenished naturally over short periods of time, such as solar energy, wind, and water.

Nonrenewable Resources

Nonrenewable resources are natural resources that cannot be replenished or replaced at the same rate at which they are consumed, such as oil, coal, and natural gas.

Placebo Effect

A beneficial effect produced by a placebo drug or treatment, which cannot be attributed to the properties of the placebo itself, and must therefore be due to the patient's belief in that treatment.

Subjective Perceptions

Individual interpretations or views of reality, influenced by personal feelings, tastes, or opinions.