In a lease contract,
A) the owner of the property is called the lessee.
B) the presence of a bargain purchase option indicates that it is a finance lease.
C) the renter of the property is called the lessor.
D) there is always a transfer of ownership at the end of the lease term.

Question

Quizplus · Accepted Answer

The presence of a bargain purchase option is one of the criteria used to determine if a lease is a finance lease. The other choices are incorrect: the owner of the property is called the lessor, the renter of the property is called the lessee, and there is not always a transfer of ownership at the end of the lease term.

In a Lease Contract