Minimum rental payments are the same as minimum lease payments.

Name: Minimum rental payments are the same as minimum lease payments.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Minimum rental payments refer specifically to the payments made by the lessee to the lessor for the right to use an asset under an operating lease, while minimum lease payments include not only the rental payments but also any residual value guarantees, purchase options, and penalties for non-renewal under both operating and finance leases.

Minimum Rental Payments Are the Same as Minimum Lease Payments