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Which of the following statements with regards to leases is false? A: The lessor has legal ownership of the leased asset. B: The lessee obtains
Which of the following statements with regards to leases is false?
A: The lessor has legal ownership of the leased asset.
B: The lessee obtains the right to use the asset in return for periodic payments.
C: The lessee ultimately obtains legal ownership of the leased asset.
D: Leasing allows a lessee to obtain the use of an asset without also obtaining ownership of the asset.
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