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.
FREIGHT is the charge for transporting something by common carrier.
DISCLOSURE is to reveal information. Financial statement footnotes are one way of providing necessary disclosures.
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