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Two common types of leases are operating and financing leases. describe and share examples of each. What are the major differences in accounting for each

Two common types of leases are operating and financing leases. describe and share examples of each. What are the major differences in accounting for each of these two types of leases? From both the lessor and lessee point of view.

How does the new leasing rules put forth by the Financial Accounting Standards Board affect your response?

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