Which of the following motivations are dubious reasons for leasing?

1. I) Leasing avoids capital expenditure controls.
2. II) Leasing preserves capital.
3. III) Leasing can make the firm's balance sheet and income statement look better by increasing book income or decreasing book assets or both.
4. IV) Tax shields can be used.

Answer options:

I and II only

I, II, and III only

I, II, III, and IV

I, II, and IV only