Minimum Lease Payments Do Not Include

question 51

Multiple Choice

Minimum lease payments do not include

• A)any guarantee by the lessee of the residual value
• B)any payments on failure to renew or extend the lease
• C)executory costs
• D)minimum periodic rental payments

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Definitions:

Merit System Appointee

A person appointed to a position based on their abilities and qualifications rather than political affiliations or other non-merit factors.

Civil Service Employee

An individual who works for a government agency or department, often under a merit-based system as opposed to being appointed or elected.

Privatization

The process of transferring ownership of a business, enterprise, agency, or public service from the government to private individuals or organizations.

Federal Workers

Employees of the federal government who work in various departments and agencies, contributing to the administration and implementation of government policies.