Use the Fact Situation Above to Answer the Question

question 9

Multiple Choice

Use the fact situation above to answer the question. 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:

Text Tabulations

The arrangement of data in tables or lists that makes information easier to read and understand.

General-purpose Tables

Tables designed for wide-ranging uses or functions, rather than being specialized for a particular type of data or analysis.

Column Heads

Column heads are the titles or headings used at the top of columns in tables or spreadsheets to denote the content or category of the information listed below them.

Gantt Chart

A type of bar chart that illustrates a project schedule, showing the start and finish dates of various elements of a project.