________ lease is a contractual arrangement whereby the lessee agrees to make periodic payments to the lessor for five or fewer years for an asset's services. This type of lease may also be canceled at the option of the lessee.
A) A financial
B) An operating
C) A capital
D) A direct

Question

Quizplus · Accepted Answer

An operating lease is a type of lease where the lessee pays periodic payments to the lessor for the use of an asset for a period of five or fewer years. This type of lease is cancelable at the option of the lessee, and the lessor retains ownership of the asset. It is often used for assets that have a shorter useful life, such as computers or office equipment.

________ Lease Is a Contractual Arrangement Whereby the Lessee Agrees