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JAMB Commerce 1997 Question 15

Question 15

Business Finance

Leasing is the right to use assets for an agreed period in return for

  1. A.profit
  2. B.interest
  3. C.wages
  4. D.rents.
Show the answer and explanation

Answer: D (rents.)

Explanation

The user (lessee) pays regular rent to the owner (lessor) for the use of the asset.