When a Finance Company Purchases Equipment for Use by Another

question 6

Multiple Choice

When a finance company purchases equipment for use by another business, the finance company provides financing in the form of

• A)factoring.
• B)leasing.
• C)a banker's acceptance.
• D)a letter of credit.

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Definitions:

Intellectual Property

Refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.

Caveat Emptor

A Latin phrase meaning "let the buyer beware," implying that the buyer assumes the risk for the quality and condition of goods purchased, especially without a warranty.

Legal Concept

A principle or framework of laws that is recognized and enforced by a legal system.

Unauthorized Use

The use of a product, service, or information without permission or in violation of its intended use or laws.