A lease
A)Is a series of payments to property owners in exchange for use of the property
B)Gives the lessee exclusive control over an asset's usefulness
C)Allows a lessor to earn revenues from a rental property
D)May be operating or finance
E)All of these

Question

Quizplus · Accepted Answer

A lease involves a series of payments made by the lessee to the property owner in exchange for the use of the property, which gives the lessee exclusive control over the asset's usefulness. The lessor, in turn, earns revenues from a rental property. A lease can be either an operating lease or a finance lease, depending on the terms and conditions of the agreement. Therefore, choice E, "All of these," is the correct answer.

A Lease