Prepayments Made by the Lessee on an Operating Lease Are

question 42

Multiple Choice

Prepayments made by the lessee on an operating lease are considered to be:

• A)A lease expense.
• B)A depreciable asset.
• C)Deferred revenue.
• D)A prepayment of rent expense.

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Definitions:

Temporary Assistance

Short-term financial or material aid provided to individuals or families in need to help them cope with emergencies or periods of economic hardship.

Needy Families

Households with insufficient income or resources to meet basic living expenses.

Supplemental Security Income

A United States government program that provides financial aid to elderly, blind, or disabled individuals with little or no income to help them meet basic needs for food, clothing, and shelter.

Negative Income Tax

is a proposed system of income support that involves the government providing financial assistance to individuals earning below a certain threshold.