Question

Multiple Choice Question:

Under the lease agreement, the lessee gets the right to

Options

• Share profits earned by the lessor

• Participate in the management of the organisation

• Use the asset for a specific period

• Sell the assets

Answer 1

A lease agreement is an agreement between two parties by which the owner of an asset grants the right to another party to use it in return for a periodic payment. Therefore, under a lease agreement, the lessee gets the right to use the asset of the lessor for a specific period.

Hence, the correct answer is option Use the asset for a specific period.