Why Is a Short Term Lease or Rental of Property

question 43

Multiple Choice

Why is a short term lease or rental of property an attractive way for a business to acquire the use of equipment for a particular task or period of time?

• A) A lease protects creditors whether the arrangement is contractual or not.
• B) A lease is a form of sale and is covered by the large number of terms implied through legislation governing the sale of goods
• C) It makes little sense to purchase something that is not needed for a long period,unless,of course,the rental charges approach the cost of buying.
• D) The lessee must take reasonable care of the property while that property is in its possession and return it in the state that would be expected

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Definitions:

Overexertion

Physical or mental strain due to excessive effort or activity, often leading to injury or fatigue.

Occupational Health and Safety

The area of public health focused on preventing workplace injuries and illnesses.

Safety Performance

The record or measurement of an organization’s ability to prevent accidents and protect workers from harm.

Hazard Analysis

The process of identifying potential hazards that could cause harm in the workplace and determining the severity and likelihood of their occurrence.