Examlex
Choose the INCORRECT statement.
Lease
A contractual agreement allowing the lessee to use an asset owned by the lessor for a specified period in exchange for payment.
Lessee
An individual or entity that leases an asset from another, agreeing to make payments in exchange for using the asset for a specified period.
Lessee
An individual or entity that leases or rents property or equipment from another, known as the lessor.
Leveraged Lease
A lease arrangement where the lessor uses borrowed funds to acquire an asset which is then leased to a lessee, effectively leveraging the investment.
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