Which of the Following Statements Is FALSE

question 38

Multiple Choice

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.