Which of the following is true of a finance lease?
A) It involves leasing out money to a lessee.
B) The lessor is the supplier of goods.
C) It consists of a lessor, a lessee, and a supplier.
D) The lessee acquires the title of the goods.

Question

Quizplus · Accepted Answer

A finance lease typically involves three parties: the lessor (who owns the asset), the lessee (who uses the asset), and the supplier (who provides the asset). The lessor purchases the asset from the supplier and leases it to the lessee.

Which of the Following Is True of a Finance Lease