GAO Definition

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GAO (Government Accountability Office) is the investigative arm of the United States Congress charged with examining matters relating to the receipt and payment of public funds.

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INDUSTRY is the people or companies engaged in a particular kind of commercial enterprise.

DIRECT FINANCING LEASE is one in which the lessor's only source of revenue is interest. The lessor (generally a bank or other financial institution) buys an asset and leases it to the lessee. This transaction is an alternative to the more customary lending arrangement in which a borrower uses the loan proceeds to purchase an asset. A direct financing lease is the functional equivalent of a loan.

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