Under GASB Statement No. 87, Leases, which of the following is false? Multiple Choice The lessor reclassifies the deferred lease revenue as lease revenue over time and in a systematic and rational manner. The lessor is provided with separate categories for all lease contracts. Alessee is required to recognize a lease liability and an intangible right-to-use lease asset Unless the maximum life of a lease is one year or less, all leases are the equivalent of financing leases The lessor records both a receivable and a deferred lease revenue at present value