Which of the following statements with regards to leases is false?
A) The lessor has legal ownership of the leased asset.
B) The lessee obtains the right to use the asset in return for periodic payments.
C) The lessee ultimately obtains legal ownership of the leased asset.
D) Leasing allows a lessee to obtain the use of an asset without also obtaining ownership of the asset.
Correct Answer:
Verified
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