Use the facts of this situation to answer the related question that follows it. A enters into an agreement with B,an automobile dealer.A does not have the cash to buy the car,so a leasing arrangement is made under which each lease payment is a payment towards the purchase of the car.Ownership of the car remains with B until A makes the last payment,at which time it is transferred to A.
In the fact situation above,the lease is best described as
A)a hire-purchase agreement.
B)an operating lease.
C)a sale and purchase agreement.
D)a security lease.
E)none of the above

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The Answer of Use the facts of this situation to answer the related question that follows it. A enters into an agreement with B,an automobile dealer.A does not have the cash to buy the car,so a leasing arrangement is made under which each lease payment is a payment towards the purchase of the car.Ownership of the car remains with B until A makes the last payment,at which time it is transferred to A.
In the fact situation above,the lease is best described as
A)a hire-purchase agreement.
B)an operating lease.
C)a sale and purchase agreement.
D)a security lease.
E)none of the above

Use the Facts of This Situation to Answer the Related