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 answers are correct.

Question

Quizplus · Accepted Answer

All of these answers are correct. 
A lease involves payments to the property owner in exchange for use of the property (A), gives the lessee exclusive control over the usefulness of the asset (B), allows the lessor to earn revenues from a rental property (C), and can be either an operating or finance lease (D).

A Lease