Under GASB Statement No. 87 Leases, which of the following is false?

a. Unless the maximum life of a lease is one year or less, all leases are the equivalent of financing leases

b. a lessee is required to recognize a lease liability and an intangible right-to-us lease asset.

c. The lessor records both a receivable and a deferred lease revenue at present value.

d. The lessor is provided with separate categories for all lease contracts.

e. The lessor reclassifies the deferred lease revenue a lease revenue over time and in a systematic and rational manner.