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A fiNancial Lease Has Which as Its Primary Characteristics

Question 1

Multiple Choice

A financial lease has which as its primary characteristics:


A) is fully amortized, lessee maintains equipment and there is no renewal clause and no
Cancellation clause.
B) is not fully amortized, lessor maintains equipment and there is a renewal clause but no
Cancellation clause.
C) is fully amortized, lessor maintains equipment and there is a renewal clause and a no
Cancellation clause.
D) is not fully amortized, lessor maintains equipment and there is a renewal clause.
E) is fully amortized, lessee maintains equipment and there is a renewal clause and a no
Cancellation clause.

Correct Answer:

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