An Advantage of Leasing Is That the Lessor Does Not

question 1

Multiple Choice

An advantage of leasing is that the lessor does not own the asset and can cancel:

• A) only financial leases.
• B) only operating leases.
• C) only capital leases.
• D) any kind of leases anytime.
• E) None of these.

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Definitions:

Clean Hands

Absence of wrongdoing on the part of a person seeking an equitable remedy.

Financial Ability

The capacity of an individual or entity to manage expenses, invest, or meet financial commitments, often determined by assets, income, and creditworthiness.

Legal Tender

Officially recognized currency that can be used to settle public and private debts within a country.

Repudiation

An indication by one party to the other that there will be a failure to honour the contract (the expression of which can be expressed or implied).