Question 1 (10 points) Saved A lease is an agreement between a lessor (owner) and a lessee (renter or tenant) that gives the lessee the right to use the asset for a period of time in return for cash (rent) payments. True False Question 2 (10 points) Saved Finance leases are long-term leases where the lessee receives substantially all remaining benefits of the liability. True False Question 3 (10 points) A finance lease is similar to the financing of an asset purchase. Examples include most leases of airplanes, delivery trucks, medical equipment, railcars, and department store buildings. True False