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

Name: Operating leases are long-term or noncancelable leases in which the lessor transfers all the risks and rewards of ownership to the lessee.
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Operating leases are long-term leases where the lessor retains significant risks and benefits of ownership, unlike finance leases where the risks and benefits are transferred to the lessee.

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