Use the Fact Situation in Q3 to Answer the Related

question 63

Multiple Choice

Use the fact situation in Q3 to answer the related question that follows. Using the fact situation above,assume that just after B,the dealer,enters into the lease agreement with A,he assigns the lease to a financing company,which gives notice to A to make all payments to the company until the price has been paid in full,at which time the company will transfer the car to A.In this case,the lease is best described as

• A)a security lease.
• B)a finance lease.
• C)an operating lease.
• D)a hire-purchase agreement.
• E)an agreement of purchase and sale.

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Definitions:

Labor Relations

The study and practice of managing relationships between employers and employees, focusing on collective bargaining, workers' rights, and dispute resolution.

Efficiency

Refers to the ability to achieve a goal using the least amount of resources possible, often focusing on speed and minimizing waste.

Equity and Voice

Refers to the fairness in treatment and opportunities for participation and expressing opinions within an organization or society.

At Will

An employment agreement allowing the employer or employee to end employment at any time, for any reason, or for no reason, without prior notice.