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Lease Obligations

by Online Tutorial & Training Guide | Dec 10, 2025 | Chart of Accounts, Liabilities, Terminologies

Long-term liabilities for leased property or equipment under accounting rules. Depending on terms, leases can be operating or finance leases. Recognized on the balance sheet to show commitments.

  • Lease Obligations
  • Depreciation
  • Owner’s Salary (Informal)
  • Miscellaneous Expense
  • Audit Log
  • Matching Principle
  • Prepaid Expenses
  • Legal Expense
  • Professional Fees Expense
  • Employee Benefits Payable

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