A and B enter into an agreement for a car whereby A will make lease payments for a certain term,after which A will have the option of buying the car by a final payment of $5000.00.In this case,the lease is best described as
A)a hire-purchase agreement.
B)an operating lease.
C)a security lease.
D)a finance lease.
E)an agreement of purchase and sale.

Question

Quizplus · Accepted Answer

The Answer of A and B enter into an agreement for a car whereby A will make lease payments for a certain term,after which A will have the option of buying the car by a final payment of $5000.00.In this case,the lease is best described as
A)a hire-purchase agreement.
B)an operating lease.
C)a security lease.
D)a finance lease.
E)an agreement of purchase and sale.

A and B Enter into an Agreement for a Car