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Question
A short-term lease which is often cancellable is known as _______________.
A short-term lease which is often cancellable is known as _______________.
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Solution
The correct option is C Operating Lease
An operating lease is a lease whose term is short as compared to useful life of the asset. An operating lease is commonly used to acquire equipment on a relatively short term basis.
An operating lease is a lease whose term is short as compared to useful life of the asset. An operating lease is commonly used to acquire equipment on a relatively short term basis.
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