Which of the following statements isleastaccurate?

a.Under a financial lease contract, the legal owner of the asset is the lessee.

b.Under a sales and leaseback contract, a company sells its asset to a buyer then leases the asset back from the buyer right away.

c.Under a financial lease, both the leased asset and lease liability appear in the balance sheet.

d.Sales and leaseback is a type of financial lease.

e.An operating lease is an off-balance-sheet transaction.