Question

Under the lease agreement, the lessee gets the right to
(a) Share profits earned (b) Participate in the by the lessor management of the organisation (c) Use the asset for a specified period (d) Sell the assets

Answer 1

Answer:

Under the lease agreement, the lessee gets the right to Use the asset for a specified period

Among the given options option (c) Use the asset for a specified period is a correct answer.

Explanation:

Lease is a contract where in the owner of assets grants the other party to right to use the asset in return for a periodic payment. The position of the assets transferred to the lessee with low investment.  

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