Chapter 21: Term Loans and Leases MCQs

Multiple-Choice Quiz

Chapter 21:   Term Loans and Leases

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1. One difference between a financial lease and operating lease is that:

there is a often a call option in a financial lease.

there is often an option to buy in an operating lease.

an operating lease is often cancellable by the lessee.

a financial lease is often cancellable by the lessee.