please help with answering 1-4

Click to watch the Tell Me More Learning Objective 7 video and then answer the questions below. 1. Leases allow a. the lessee the right to use an asset in exchange for making payments to its owner, the lessor. b. the lessor the right to use an asset in exchange for making payments to its owner, the lessee. c. the payee the right to use an asset in exchange for making interest payments and repaying the principal on maturity d. None of the above 2. The difference between an operating lease and a capital tease is that in a capital lease: a. The lessee acquires the right to use an asset for a limited period of time. b. The lessee is not required to record the right to use the property as an asset. c. The lease is recorded as an asset by the lessee. d. The lessee has no right of ownership and control 3. Alease should be considered a capital lease by the lessee when one or more of the following criteria are met: a. The lease transfers ownership of the property to the lessee at the end of the lease term. b. The lease contains a bargain-purchase option to purchase the asset at an amount lower than its fair market value c. The lease term is 75% or more of the property's economic life. d. All of the above. d 4. In the accounting for leases: a. FASB requires that if a lease meets any of the criteria of a capital lease, it must be accounted for as a capital lease. b. IFRS requires that if a lease meets any of the criteria of a capital lease, it must be accounted for as a capital lease. C. IFRS requires that if a lease does not meet any of the criteria of a capital lease, it must be accounted for as an operating lease, d. FASB has flexibility in applying the lease standards of capital leases