One Common Characteristic of Open-End Leases Is That

question 93

Multiple Choice

One common characteristic of open-end leases is that

• A)the length of the lease may be automatically extended by the lessee.
• B)the total cost of the lease remains unknown until the end of the leasing period.
• C)the monthly payments are variable and open-ended.
• D)all of the above are common characteristics of open-end leases.

---

Definitions:

Price

The monetary equivalent expected, required, or delivered as a transaction for something.

Law of Demand

An economic principle stating that as the price of a good increases, the demand for that good decreases, and vice versa.

Steak

A cut of meat, typically beef, that is sliced perpendicular to the muscle fibers, often grilled or pan-fried.

Rhode Island

The smallest U.S. state by area, located in the New England region.