A financial lease has the following as its primary characteristics:A. is fully a

Question

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.

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is not fully amortized, lessor maintains equipment and there is a renewal clause but no cancellation clause.(B)

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is fully amortized, lessor maintains equipment and there is a renewal clause and a no cancellation clause.(C)

is not fully amortized, lessor maintains equipment and there is a renewal clause.(D)

E.

is fully amortized, lessee maintains equipment and there is a renewal clause and a no cancellation clause.

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is not fully amortized, lessor maintains equipment and there is a renewal clause but no cancellation clause.(B)

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is fully amortized, lessor maintains equipment and there is a renewal clause and a no cancellation clause.(C)

is not fully amortized, lessor maintains equipment and there is a renewal clause.(D)

E.

is fully amortized, lessee maintains equipment and there is a renewal clause and a no cancellation clause.

Explanation / Answer

E: is fully amortized, lessee maintains equipment and there is a renewal clause and a no cancellation clause.-CORRECTANSWER

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