Examlex
What are Peter Berger's four major characteristics of modernization?
Default Risk
The likelihood that a borrower will fail to meet the obligations of a debt agreement.
Financing Lease
A lease in which the lessee effectively acquires ownership of the leased asset. Also called a capital lease. Accounted for by showing the leased asset on the balance sheet offset by a liability representing the obligation to make future lease payments. Compare with Operating lease.
Balance Sheet
An accounting report displaying the financial condition of a business, including what it owns, owes, and the equity held by shareholders on a given date.
Leases
A contractual arrangement where a lessee (user) pays the lessor (owner) for the use of an asset for a specified period of time.
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