Sophia Finance Final Milestone 2025/2026
Determine whether the following description is
true of a capital lease, an operating lease,
neither or both.
"A method of financing an asset like equipment
without purchasing it outright with equity"
● Capital lease
● Operating lease
● Neither
# Both
RATIONALE
This is the simple definition of a lease.
CONCEPT
→ Leasing
What expenses typically come first in the
"Expenses" section of an income statement?

●

● Neither
# Both
● Irregular expenses
● Tax expenses
#
Selling, general and
administrative
expenses

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