Which of the following statements about a financial lease is generally true? - 4080

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Which of the following statements about a financial lease is generally true?

a.The entire lease payment is used as an income tax deduction.

b.Only the portion of the lease payment that reduces the principal may be used as an income tax deduction.

c.It has no income tax deductibility.

d.Only the portion of the lease payment that is applied to interest is tax-deductible.

 
Solution Description

Which of the following statements about a financial lease is generally true?