In leases, who is most likely to carry the insurance and bear the cost of maintenance and repairs?
A) These are usually the responsibility of the lessor in purchase leases.
B) In purchase leases, it would be the lessee.
C) In operating leases, it would be the lessee.
D) In a finance lease, this is done by the lessor.
E) In a three- year automobile lease, it would be the lessor.

Question

Quizplus · Accepted Answer

In purchase leases, the lessee typically carries the insurance and bears the cost of maintenance and repairs.

In Leases, Who Is Most Likely to Carry the Insurance