Find If . ​

question 244

Multiple Choice

Find if . ​

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Definitions:

Financial Lease

A long-term lease agreement that allows the lessee to use an asset while essentially assuming both the risks and benefits of ownership.

Lessor

The owner of an asset in a leasing agreement. The lessor receives payments from the lessee.

Insure

The act of protecting against loss, damage, or liability through a contract with an insurance company that compensates the insured in the event of specified types of loss.

Operating Lease

A lease agreement for short-term renting of equipment or property where the lessor remains the legal owner, and the lessee only pays for use of the asset.