Marcus rented some scaffolding to aid in replacing the siding of his house.This type of lease would be referred to as
A)an operating lease.
B)a security lease.
C)a capital lease.
D)a performing lease.
E)a functioning lease.

Question

Quizplus · Accepted Answer

An operating lease is correct because it is a short-term lease agreement that allows the lessee to rent equipment or property for a period that is shorter than the asset's useful life, which fits the scenario of renting scaffolding for a specific, temporary project like replacing siding.

Marcus Rented Some Scaffolding to Aid in Replacing the Siding