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Lease
A lease is a contractual arrangement allowing one party the use of some exact assets for a specific times period in exchange for a payment it is same as a rental arrangement. The lease is the party that receives the use of assets under a lease, and the leaser is the party that conveys the use of the recourses. An operating lease is commonly a short-term cancelable arrangement that is a financial (or capital) lease is a long- term non cancelable arrangement.
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Question 1 Write short notes on following- Explain any five important functions of accounting What is Book-Keeping? Explain features of book-keeping Question 2 Ex
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