An operating lease and a financial lease have the same general characteristic: they both allow the lessee to use an asset in exchange for stated periodic payments.

Name: An operating lease and a financial lease have the same general characteristic: they both allow the lessee to use an asset in exchange for stated periodic payments.
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Both types of leases involve the use of an asset in exchange for payments, but there are differences in terms of ownership, duration, and accounting treatment.

An Operating Lease and a Financial Lease Have the Same