A financial lease has which as its primary characteristics:
A) is fully amortized, lessee maintains equipment and there is no renewal clause and no cancellation clause.
B) is not fully amortized, lessor maintains equipment and there is a renewal clause but no cancellation clause.
C) is fully amortized, lessor maintains equipment and there is a renewal clause and a no cancellation clause.
D) is not fully amortized, lessor maintains equipment and there is a renewal clause.
E) is fully amortized, lessee maintains equipment and there is a renewal clause and a no cancellation clause.
Correct Answer:
Verified
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