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Sellers and lessors are not required to make express warranties.
Sales-type Lease
A lease agreement where the lessor recognizes immediate profits on the sale of an asset while retaining its ownership.
Interest Revenue
Income that a company receives from its investments in bonds, loans, or other instruments that earn interest.
Rent Revenue
Income received from leasing out property or equipment.
Straight-line Method
An accounting method of depreciation where an asset's cost is evenly spread over its useful life.
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