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Basic Question 3 of 8
A short-term lease that provides the lessee with temporary use of an asset is called, in accounting, a capital lease. True or False?
User Contributed Comments 2
| User | Comment |
|---|---|
| Piersy | This is an operating lease |
| cong | Financing leases are more likely to result in transfer of ownership than operating leases. |
I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
explain the financial reporting of leases from the perspectives of lessors and lessees
CFA® 2024 Level I Curriculum, Volume 2, Module 8.