If a lease is extended for a length of time that is equal - 3847

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Request Description

If a lease is extended for a length of time that is equal to the entire useful life of the equipment, the lease:

a.is referred to as an operating lease.

b.carries no income tax deduction.

c.is a financial lease.

d.will be terminated by the IRS.

 
Solution Description

If a lease is extended for a length of time that is equal to the entire useful life of the equipment, the lease: