Which of the following is the best definition of a financial lease?

a A lease in which the lessor is the owner for tax purposes. Also called a true lease or a tax lease.

b A longer-term, fully amortized lease under which the lessee is responsible for upkeep. Usually not cancellable without penalty.

c A lease in which the lessee sells an asset to the lessor and then leases it back.

d A lease where the lessor borrows a substantial fraction of the cost of the leased asset.

e A shorter-term lease where the lessor is responsible for insurance, taxes, and upkeep. Often cancellable on short notice.