All of the following are true of financial leases except
A)non-cancelable
B)lessee is normally responsible for maintenance and insurance
C)lease payments are normally sufficient to amortize the original cost of the asset
D)all financial leases are also leveraged leases

Question

Quizplus · Accepted Answer

Not all financial leases are leveraged leases. Leveraged leases involve a third-party investor who provides a portion of the financing for the leased asset, while financial leases are fully financed by the lessor.

All of the Following Are True of Financial Leases Except