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Lessee
A person or entity that leases an asset from another party, known as the lessor.
Flexibility
The ability of an entity or system to adapt to changes, variability, or uncertainties in its operational environment.
Indirect Interest Costs
Expenses related to obtaining financing (such as legal, administrative, and underwriting fees) that do not directly involve the payment of interest.
Combination Leases
Combines some aspects of both operating and financial leases. For example, a financial lease that contains a cancellation clause—normally associated with operating leases—is a combination lease.
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