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Questions and Answers
The lessor is responsible for the risk of the leased asset during the lease period.
The lessor is responsible for the risk of the leased asset during the lease period.
True (A)
The lessee assumes the risk of the leased asset during the lease period.
The lessee assumes the risk of the leased asset during the lease period.
False (B)
Ownership of the leased asset is transferred to the lessee during the lease period.
Ownership of the leased asset is transferred to the lessee during the lease period.
False (B)
The lessor is relieved from all liabilities related to the ownership of the leased asset.
The lessor is relieved from all liabilities related to the ownership of the leased asset.
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The subject of an Ijara contract is the transfer of ownership of an asset.
The subject of an Ijara contract is the transfer of ownership of an asset.
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The lessee is responsible for insuring the leased asset during the lease period.
The lessee is responsible for insuring the leased asset during the lease period.
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In an Ijara contract, the lessor can transfer ownership of the leased asset to the lessee.
In an Ijara contract, the lessor can transfer ownership of the leased asset to the lessee.
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