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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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Section
BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

What are the major advantages of leasing a fixed asset rather than purchasing it?

To determine

Lease

Lease is a contract between two parties where, lessee (user of the asset) pays rental amount timely, to the lessor (owner) for using the fixed asset.

To indicate:  The major advantages of leasing the fixed asset rather than purchasing it.

Explanation

The major advantages of leasing the fixed asset rather than purchasing it are as follows:

1. The company will be able to use the asset, without spending a huge amount to purchase it...

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