单选题 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.

【正确答案】 A

【答案解析】[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