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a) Purchasing – where the buyer acquires ownership of item after payment of an agreed amount
b) Leasing – involves formation of an agreement between lessee and lessor detailing the use of equipment, the length of time to use the equipment and the periodical payment
c) Renting – involves a single agreement where one party agrees to use another party’s resources at certain periodical payments. The agreement is not as binding as that of a lease agreement.
Steve ju answered the question on October 10, 2018 at 08:28
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