Which three statements relate accurately to finance leasing?

Question

Quizplus · Accepted Answer

Finance leases are characterized by the lessor recovering the full cost of the asset plus interest over the lease term (B), often including a primary period with fixed payments and a possible secondary period with lower payments or a continuation clause (C), and typically, the lessee has limited or no rights to cancel the lease, making it a more long-term commitment (D). They are not generally short-term arrangements, which contrasts with the description in option A.

Which Three Statements Relate Accurately to Finance Leasing