When a business pays for the use of an equipment owned by an outside supplier for a specified period of time,the process is known as:

Question

Quizplus · Accepted Answer

Leasing refers to the process of paying for the use of equipment owned by an outside supplier for a specified period of time. Outsourcing refers to contracting work to an outside company or individual, supply inversion is not a known term in business, and nearshoring refers to moving business operations to a nearby country for cost or efficiency reasons.

When a Business Pays for the Use of an Equipment