Discuss 3 different types of business leases and their merit.
A lease is an arrangement under which a lessor agrees to allow a lessee to control the use of identified property, plant, or equipment for a stated time period in exchange for 1 or more payments. There are several types of lease designations, and they differ if an entity is the lessee or the lessor. For a lessee, a lease can be designated as either a finance lease or an operating lease.
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Discuss 3 different types of business leases and their merit.
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