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20. What is the difference between a
capital lease and an operating lease?
An operating lease is an agreement to
use an asset without the implied transfer of ownership
or the ability to depreciate the asset. By definition
most rental agreements are operating leases. Include
all operating lease and rental payments relating to
equipment. Capital leases presume a sale and purchase
of an asset, and are defined by the criteria in the
Financial Accounting Standards Board (FASB) Number 13.
Do not include capital leases on the ICT survey.
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3/24/08-3/31/08 |
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5/07/08 |
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