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ch21 - ch21 Student Multiple Choice Questions 1 In a lease...

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ch21 Student: _______________________________________________________________________________________ Multiple Choice Questions 1. In a lease arrangement, the owner of the asset is: A. the lesser. B. the lessee. C. the lessor. D. the leaser. E. None of the above. 2. In a lease arrangement, the user of the asset is: 3. Which of the following would not be a characteristic of a financial lease? 4. An independent leasing company supplies ___________ leases versus the manufacturer who supplies ________________ leases. 5. Which of the following is not a financial lease? A. A leveraged lease B. An operating lease C. A sale-and-leaseback D. Both A and B. E. None of the above. 6. If the lessor borrows much of the purchase price of a leased asset, the lease is called:
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7. An operating lease's primary characteristics are: 8. If a lease is for 35 years, it is regarded as a: 9. The city of Oakland sold some buildings and used the proceeds to improve its financial position. The city then leased the buildings back in order to continue to use these facilities. This is an example of: A. an operating lease. B. a short-term lease. C. a sale and leaseback. D. a fully amortized lease. E. None of the above. 10. A financial lease has which as its primary characteristics:
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