Which of the Following Is NOT a Required Disclosure Under

question 204

Multiple Choice

Which of the following is NOT a required disclosure under the Consumer Leasing Act:

• A) number, amount, and period of the payments and the payment total
• B) express warranties offered by the leasing party or the manufacturer of the leased property
• C) identification of the party responsible for maintaining the leased property
• D) all of the other specific choices are required
• E) none of the other specific choices are required

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Definitions:

Opportunity Costs

The potential benefits an individual, investor, or business misses out on when choosing one alternative over another.

Equilibrium

A state in a market where supply equals demand, meaning that there is no tendency for the market price to change unless external factors alter supply or demand.

Specializing

The process by which individuals, businesses, or countries focus on producing a limited range of goods or services, to gain a competitive advantage in terms of efficiency, quality, or cost.

Specialization

Refers to the process by which individuals, firms, or countries focus on producing a limited range of goods or services to achieve greater efficiencies.