The party who uses a leased asset is called the:
A) lessee.
B) lessor.
C) guarantor.
D) trustee.
E) manager.

Question

Quizplus · Accepted Answer

The lessee is the party who uses or leases an asset from the lessor. The lessor is the one who owns the asset and leases it out. The guarantor is someone who promises to pay off a debt or a lease in case the lessee defaults, while a trustee manages assets on behalf of others. Therefore, the correct answer is A) Lessee.

The Party Who Uses a Leased Asset Is Called The