If the lessee is generally responsible for the maintenance of the leased asset, then this scenario represents a characteristic of an operating lease.

Name: If the lessee is generally responsible for the maintenance of the leased asset, then this scenario represents a characteristic of an operating lease.
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In an operating lease, the lessor typically retains responsibility for the maintenance and insurance of the asset, whereas in a finance lease, the lessee often assumes these responsibilities.

If the Lessee Is Generally Responsible for the Maintenance of the Leased