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All of the following are correct regarding operating leases except : a. The rights to use the property for a specified period of time are

All of the following are correct regarding operating leases except:

a. The rights to use the property for a specified period of time are conferred to the lessee by the lessor.

b. Depreciation expense can be recorded on the books by the lessee.

c. Cash outflow is in the form of rent payments.

d. At the end of the lease the lessee returns the property to the lessor.

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