A lease is a short-term lease if the maximum possible lease term is 12 months or less excluding any options to extend the lease.

Name: A lease is a short-term lease if the maximum possible lease term is 12 months or less excluding any options to extend the lease.
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A lease is a short-term lease if the maximum possible lease term is 12 months or less including any options that are expected to be exercised to extend the lease.

A Lease Is a Short-Term Lease If the Maximum Possible