Which of the following statements is FALSE?
A)A lease is a contract between two parties: the lessee and the lessor.
B)Most leases involve little or no upfront payment.
C)The lessee is the owner of the asset,who is entitled to the lease payments in exchange for lending the asset.
D)At the end of the contract term,the lease specifies who will retain ownership of the asset and at what terms.

Question

Quizplus · Accepted Answer

The lessee is not the owner of the asset, but rather is renting the asset from the lessor in exchange for lease payments. The lessor remains the owner of the asset throughout the lease term.

Which of the Following Statements Is FALSE