A Lease That Provides Maintenance in Addition to Financing and Is

question 58

Multiple Choice

A lease that provides maintenance in addition to financing and is also usually cancelable is called:

• A)capital lease
• B)liability lease
• C)operating lease
• D)asset lease
• E)equity lease

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Definitions:

Illegal

Referring to actions or activities that are prohibited by law.

Promotional Allowances

Financial incentives offered by manufacturers to retailers or wholesalers to encourage the sale or stocking of products.

Robinson-Patman Act

A 1936 United States federal law aimed at preventing unfair competition and price discrimination by regulating trade practices.

Across-The-Board

A term referring to actions or changes that apply uniformly to everything or everyone within a certain context or organization.