Which of the following statements about the various types of leases is false?

Group of answer choices

If a manufacturer of industrial copy machines supplements its sales revenue by leasing out some of the copiers it produces, the arrangement can be described as a direct lease

In a financial lease, the sum of the lease payments generally exceeds the cost of acquiring the asset

In a typical operating lease, the lessee is not responsible for maintaining or insuring the asset

A sale and leaseback could be an attractive option for a firm that is concerned about its ability to meet its short$-$term financial obligations

A leasing arrangement in which the lessor partially finances the purchase of a $$5$ million asset using a $$3$ million bank loan would classify as a leveraged lease