Interest expense is not calculated as the effective interest rate times the amount of the debt outstanding during the interest period for: A) bonds payable. B) notes payable. C) lease payable. D) lease receivable. ABC Enterprises is the lessor in a lease agreement. From the perspective of the lessor, the lease may be classified as: A) operating, sales-type, indirect financing. B) operating or finance. C) operating or sales-type with or without a selling profit. D) operating, finance, or sales-type. Omega leased a machine for a ten-year non-cancelable term. At the end of the ten-year term, Omega has five consecutive one-year renewal options. A replacement machine can be acquired at the end of the term for the leased machine, but due to an expensive installation process and Omega's lease term for its store, Omega expects to lease the machine for 12 years. What is the lease term? A) 10 years B) 11 years C) 12 years D) 15 years