The lessor is the receiver of the services of the assets under a lease whereas a lessee is the owner of the assets that are being leased.

Name: The lessor is the receiver of the services of the assets under a lease whereas a lessee is the owner of the assets that are being leased.
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Question

Quizplus · Accepted Answer

This statement is incorrect. The lessor is actually the owner of the assets being leased out, while the lessee is the party receiving the services of the assets.

The Lessor Is the Receiver of the Services of the Assets