Another Name for a Closed-End Lease Is A(n)

question 47

Multiple Choice

Another name for a closed-end lease is a(n)

• A)take-out lease.
• B)walk-away lease.
• C)end-purchase lease.
• D)terminal lease.
• E)none of the above.

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Definitions:

Sacred Church

A term not typically used in finance or accounting; it likely refers to a religious institution considered holy or consecrated.

Life Insurance Receivable

An asset representing the amount due to a beneficiary upon the death of the insured person, or the cash value of a policy owned by a company.

Rental Income

Earnings received from renting out property or other assets.

Journal Entry

A record of financial transactions in accounting, typically consisting of a debit to one or more accounts and a credit to another, balancing out.