Which of the Following Is Not a Component of a Minimum

question 39

Multiple Choice

Which of the following is not a component of a minimum lease payment?

• A) an unguaranteed residual value
• B) the minimum rental payments
• C) a bargain purchase option
• D) a penalty for failure to extend or renew the lease

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Definitions:

Online Blog

A website or web page that is regularly updated with written content, often focusing on a specific topic, personal experiences, or information sharing.

Fraud

A deliberate deception practiced to secure unfair or unlawful gain.

Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.

Reliance

The act of depending or trusting in something or someone; in legal contexts, often refers to actions taken based on assurances or promises from others.