Which of the Following Statements Is FALSE

question 69

Multiple Choice

Which of the following statements is FALSE?

• A)The lessee will always record the liability associated with future cash payments but never an asset associated with the property being leased.
• B)Leases can take the form of a capital lease or an operating lease.
• C)Some leases are substantially equivalent to purchases.
• D)A lease contract creates property rights and financial obligations.
• E)Almost any asset could be leased.

---

Definitions:

Active Phase

In the context of psychiatric disorders like schizophrenia, a period during which symptoms are most pronounced and interfere significantly with daily functioning.

Six Months

A half-year period, or a duration of approximately 182 to 183 days, depending on the inclusion of a leap day.

Delusional

Holding beliefs that are clearly false, illogical, or based on incorrect inferences about external reality, despite evidence to the contrary.

Type I

Commonly refers to a classification in various contexts, often seen in medical or technological fields, indicating a particular form or category within a larger grouping.