A data item or field) is a group of characters. It is used to represent individual attributes of an entity, such as an employee's address. A field is an item in a record.

A lease may be classified as either a finance lease or an operating lease by a lessee. A finance lease transfers substantially all of the risks and rewards of ownership of the asset to the lessee. A lease is classified at its inception. It normally is classified as a finance lease if for example,
1.The lease provides for the transfer of ownership of the asset by the end of the lease term.
2.The lease contains a bargain purchase option: i.e., the lessee has the option to purchase at a price expected to be sufficiently below the fair value of the exercise date that, at the lease's inception, exercise is reasonably certain.
3.The lease term is for the major part of the economic life of the asset.
4.The present value of the minimum lease payments is at least substantially all of the fair value of the leased asset at the inception of the lease.
5.The leased assets are such that they can be used only by the lessee without major modification. Thus, the rental payments tend to approximate thy--t of the leased property plus a return on the investment.

Hedging is the use of offsetting commitments to minimize the effect of adverse future price movements. Thus, a financial manager may limit many risk exposures by trading in futures markets.