A Lease is...

A Lease is...

• A. A contract allowing the use of someone else's property for a specified time.
• B. An ownership stake in a company.
• C. A loan secured by personal assets.
• D. A type of tax incentive for businesses.

Answer: (A)

A lease is a contract that gives someone the right to use someone else’s property for a defined period in exchange for payment, without transferring ownership. That makes the description about using property for a specified time the best fit. It isn’t ownership, which would be about having an ownership stake in something; it isn’t a loan, which involves borrowing money secured by assets; and it isn’t a tax incentive, which is a government benefit.

A lease is a contract that gives someone the right to use someone else’s property for a defined period in exchange for payment, without transferring ownership. That makes the description about using property for a specified time the best fit. It isn’t ownership, which would be about having an ownership stake in something; it isn’t a loan, which involves borrowing money secured by assets; and it isn’t a tax incentive, which is a government benefit.