A financial lease has the following 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.

Question

Quizplus · Accepted Answer

The Answer of A financial lease has the following 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.

A Financial Lease Has the Following as Its Primary Characteristics