Operating leases are long-term or noncancelable leases in which the lessor transfers substantially all the risks and rewards of ownership to the lessee.

Name: Operating leases are long-term or noncancelable leases in which the lessor transfers substantially all the risks and rewards of ownership to the lessee.
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Operating leases do not transfer substantially all the risks and rewards of ownership to the lessee; this is characteristic of finance leases.

Operating Leases Are Long-Term or Noncancelable Leases in Which the Lessor