BENEFIT PERIOD Definition

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BENEFIT PERIOD is the projected useful life time period over which an asset will be productive.

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CAPITAL LEASE is a lease obligation that has to be capitalized on the balance sheet. It is characterized by: it is non-cancelable; the life of lease is less than the life of the asset(s) being leased; and, the lessor does not pay for the upkeep, maintenance, or servicing costs of the asset(s) during the lease period.

CALLABLE BOND is a bond the issuer has the right to pay off at issuers discretion.

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