Which of these is correct concerning the difference between a hire purchase agreement and a finance lease?

Question

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A hire purchase agreement allows the customer to eventually become the legal owner of the asset once the full cost has been paid, while for a finance lease ownership remains with the lessor. Option B is incorrect as immediate possession of the asset can be taken under both agreements. Option C is also incorrect as both agreements can be short-term or long-term arrangements. Option D is incorrect because the correct differences are A only.

Which of These Is Correct Concerning the Difference Between a Hire