Which of the Following Would Not Be a Characteristic of a Financial

question 32

Multiple Choice

Which of the following would not be a characteristic of a financial lease?

• A) They are not usually fully amortized.
• B) They usually require the lessor to maintain and insure the leased assets.
• C) They usually do not include a cancellation option.
• D) The lessee usually has the right to renew the lease at expiration.

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Definitions:

Compensatory Damages

Monetary compensation awarded to a plaintiff to cover the actual loss, damage, or injury suffered as a result of the defendant's actions.

Reimburse

To pay back or compensate someone for money spent or expenses incurred on your behalf.

Plaintiff Losses

Damages or costs incurred by the plaintiff in a legal case, which they seek to recover through litigation.

Dram Shop Acts

Laws in several U.S. states that impose liability on establishments serving alcoholic drinks to intoxicated persons or minors who subsequently cause harm to others.