Question

Under the lease agreement, the lessee gets the right to *

a. Share profits earned by the lessor
b. Participate in the management of the organization
c. Use the asset for a specified period
d. Sell the assets​

Answer 1

C) Use the asset for a specified period

Explanation:

A lease refers to a contractual agreement whereby the owner of the asset grants the lessee the right to use the asset for a specified period of time in return of a periodic payment. It can be simplified as an agreement between a landlord and a tenant