The rent expense of the lessee maybe composed of the following: I.      Straight-line amortization of total rental payments over the lease term plus any free rent. II.      Straight-line amortization of lease bonus paid by the lessee at inception of the lease. III.      Any contingent rent accrued to the lessor as part of lease agreement. Group of answer choices I and III only II and III only I and II only I, II, and III

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Leasing

Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.