In financial terms, which option represents a mechanism allowing the use of an asset without ownership?

Leasing is a financial arrangement in which one party, the lessee, pays for the use of an asset owned by another party, the lessor, over a specified period. This arrangement allows the lessee to benefit from the asset without assuming ownership, which means that they do not take on the full responsibilities associated with ownership, such as maintenance, insurance, and depreciation.

In a leasing agreement, while the lessee has the right to use the asset, the ownership remains with the lessor throughout the lease term. This makes leasing a popular option for businesses and individuals who may need equipment, vehicles, or property for a limited time without the high upfront costs and long-term commitment associated with purchasing the asset outright.

This process supports cash flow management and allows organizations to allocate funds to other areas, enhancing operational flexibility. Therefore, leasing is the most accurate representation of a mechanism that facilitates the use of an asset without ownership.