Choose the correct statement about lease accounting.

a) Except for leases of a year or less, lessees always account for leases as finance leases

b) Lessors always depreciate the leased asset for financial reporting purposes

c) Except for leases of a year or less, lessors always record a lease receivable

d) Except for leases of a year or less, lessees always record a lease asset and lease liability

e) Lessors do not record lease revenue for any lease