A __________ is a special type of lease transaction generally involving three parties instead of two.
A)consumer lease
B)sale
C)finance lease
D)None of the above.

Question

Quizplus · Accepted Answer

A finance lease is a special type of lease transaction involving three parties - the lessor, the lessee, and a financial institution or a bank. This type of lease involves the lessor (owner of the asset) leasing out an asset to the lessee (user of the asset) for a specific period of time, with the financial institution providing the funds for the purchase of the asset. The lessee makes periodic lease payments to the lessor, with an option to purchase the asset at the end of the lease term.

A __________ Is a Special Type of Lease Transaction Generally