Question: Differentiate between an operating lease and a capital lease from the perspective of a lessee & a lessor under (FASB)? What are the major differences

Differentiate between an operating lease and a capital lease from the perspective of a lessee & a lessor under (FASB)?

What are the major differences in classification from the perspective of the new Standard?

What is meant by the term substance over form as used in accounting for leases?

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