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A lease agreement which transfers substantially all the risks and rewards incidental to ownership is called .?

A.finance lease

B. Operating lease

C.  A & B both are correct

D. None

 

 

Accounting Auditing Cost Accounting Financial Accounting Bank Accounting
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Question added by Mohammed Mohammed , Senior SAP Consultant , Abyat Mega Store
Date Posted: 2015/01/27
Upvote (3) Views (15) Followers (17) Answers (17) Report Question
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sadat ali saadi
by sadat ali saadi , Senior Audit and accounts , SOMAR ALIMUNIUM AND GLASS MANUFACTURING LLC

Option a is right. BECAUSE IT IS A FINANCE LEASE. 

 

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

FINANCIAL  LEASE IS THE CORRECT ANSWER 

Safdar Imam Zaidi
by Safdar Imam Zaidi , Accounting Manager , EAST & WEST TRAVELS LLC

It is a finance lease which transfers all the risks and rewards of onwership.

AZHAR NAWAZ
by AZHAR NAWAZ , Assistant Manager Accounts , Quantum Geoservices (Pvt) Ltd

Option A is correct (Finance Lease)

imran Noor -
by imran Noor - , Audit Officer , Auditor General of Pakistan

The correct option is (A) >>>>>>>>>>>>> Finance lease

Waqas Raza Khan
by Waqas Raza Khan , Accountant , Cold Store Group of Saudi Arabia

Answer is Option A -------- finance lease

Malik Khalid Mahmood
by Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

a - Finance Lease...............

Mir Mujtaba Ali
by Mir Mujtaba Ali , Internal Audit Manager , Confidential

A. Finance Lease - the right answer

aziz urrehman
by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

A.finance lease is the answer as per IAS17

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership.

Example: Vehicle financed on lease.

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