State courts that have held that financing leases do not qualify as long-term debt subject to debt
Question:
State courts that have held that financing leases do not qualify as long-term debt subject to debt limitations commonly base their decision on the inclusion in the lease agreement of a
a. Nonsubstitution clause.
b. Nonappropriation clause.
c. Nonparticipation clause.
d. Forward funding clause.
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Related Book For
Government And Not For Profit Accounting Concepts And Practices
ISBN: 9781119803898
9th Edition
Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese
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