A short-term, cancelable lease is known as a financial lease; a long-term, non-cancelable lease is called an operating lease.

Name: A short-term, cancelable lease is known as a financial lease; a long-term, non-cancelable lease is called an operating lease.
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A short-term, cancelable lease is known as an operating lease, while a long-term, non-cancelable lease is called a financial lease.

A Short-Term, Cancelable Lease Is Known as a Financial Lease;