FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Concept explainers

Leasing
Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.
Question

A lease that involves a manufacturer’s or dealer’s profit is a(an):
(a) direct financing lease.
(b) finance lease.
(c) operating lease.
(d) sales-type lease

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