The Technical Process During Which the New System Replaces the Old

question 53

True/False

The technical process during which the new system replaces the old system is called installation.

---

Definitions:

Operating Lease

An Operating Lease is a leasing agreement allowing the use of an asset but does not convey rights of ownership, with the lease term substantially less than the asset's economic life.

Interest Revenue

Income earned by a company for lending money or through investments in interest-bearing assets.

Lease Rental Revenue

Income earned by a lessor from leasing out assets to lessees, under the terms specified in lease agreements.

Lease Receivable

An asset account on the balance sheet that represents the amount of rent due to the lessor from the lessee according to the lease agreement.