General Studies · Leasing
A key characteristic of a financial lease (or capital lease) is that:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The agreement is easily cancelled by either party without penalty.
- 2The lessor (owner) is responsible for all maintenance and insurance costs.
- 3The lessee (user) carries the majority of the risks and rewards of ownership.✓
- 4The asset is only rented for a short period, typically less than one year.
Correct answer
The lessee (user) carries the majority of the risks and rewards of ownership.
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