问题
单项选择题
An analyst does research about operating lease and financial lease. In the later years, reporting a lease as a financial lease rather than an operating lease most likely results in:
A. higher net income for the lessee.
B. higher total cash flow for the lessee.
C. higher working capital for the lessee.
答案
参考答案：A
解析： 从lessee的角度看，capital lease financial lease)和operating lease的对比如下：
| Item | Capital lease (Financial lease) | Operating lease |
| NI in early years | lower | higher |
| NI in later years | higher | loWer |
| CFO | higher | lower |
| CFF | lower | higher |
| Total cash flow | same | same |
| Working capital | lower | higher |