The lease term includes the fixed non-cancellable term of the lease plus
A)any periods covered by an ordinary renewal option during which a guarantee by the lessee of the lessor's debt related to the leased property is expected to be in effect
B)any periods covered by a bargain renewal option
C)any periods for which failure to renew the lease imposes a significant penalty on the lessee
D)all of these

Question

Quizplus · Accepted Answer

The lease term includes not only the fixed non-cancellable term of the lease, but also any periods covered by renewal options or when failure to renew results in a significant penalty. This means that all choices are correct, making option D the best choice.

The Lease Term Includes the Fixed Non-Cancellable Term of the Lease