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    Discussion of leases

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    Operating Leases

    Capital Leases

    Tax Leases

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    Dear student,

    Lease meaning:
    A lease is defined as an agreement conveying the right to use property,
    plant, or equipment (land and/or depreciable assets) usually for a stated period of time
    Capital lease:
    Capital lease means is a type of lease which effectively allows a firm to finance the purchase of an asset and the lessee will be given the right to purchase the asset at the end of the lease period at the bargain price .Therefore, a finance lease will give the lessee control over an asset for a large proportion of the asset's useful life, providing them the benefits and risks of ownership. Conditions to be followed for treating the lease ...

    Solution Summary

    The expert provides a discussion of leases. Operating leases, capital leases and tax leases are determined.