Question: Financial leases: Multiple Choice May be cancellable but only at the option of the lessor. May be cancellable by either party at any time without

Financial leases:

Multiple Choice

  • May be cancellable but only at the option of the lessor.

  • May be cancellable by either party at any time without penalty.

  • Are generally not cancellable without substantial penalty to the lessee.

  • May be cancellable by the lessor but only with substantial penalty to the lessor.

  • Are always cancellable at any time with no penalty to the lessee.

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