In Leases, Who Is Most Likely to Carry the Insurance

question 14

Multiple Choice

In leases, who is most likely to carry the insurance and bear the cost of maintenance and repairs?

• A) These are usually the responsibility of the lessor in purchase leases.
• B) In purchase leases, it would be the lessee.
• C) In operating leases, it would be the lessee.
• D) In a finance lease, this is done by the lessor.
• E) In a three- year automobile lease, it would be the lessor.

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