A capital lease is
|“||[a] lease other than a lease-purchase that transfers substantially all the benefits and risks of ownership to the lessee and does not meet the criteria of an operating lease.||”|
|“||an agreement that conveys the right to use property, plant or equipment, usually for a stated period of time, that meets one or more of the criteria set forth by GAAP.||”|
- ↑ A Glossary of Terms Used in the Federal Budget Process, at 27.
- ↑ Michigan Dept. of Tech., Management & Budget, 8000 Glossary (Jan. 6, 1997) (full-text).