Consumer Lease Definition Quiz
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Questions and Answers

What is the primary purpose of a consumer lease?

  • For business purposes
  • For personal, family or household purposes (correct)
  • For educational purposes
  • For investment purposes

    • What type of lease is used for commercial purposes?

  • Personal lease
  • Commercial lease (correct)
  • Residential lease
  • Consumer lease

    • What determines the type of lease?

  • The cost of the lease
  • The type of item being leased
  • The purpose of the lease (correct)
  • The duration of the lease

    • Is the following statement true or false: A consumer lease is used for business purposes?

    <p>False</p> Signup and view all the answers

    What is the main distinction between a consumer lease and other types of leases?

    <p>The purpose of the lease</p> Signup and view all the answers

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