A leasehold refers to the rights the lessor grants to the lessee under the terms of the lease.

Leasehold

An interest in an asset that gives the holder the right to use it for a specified period of time, typically relating to property or land.

Lessor

The party in a lease agreement who owns the asset and grants the lessee the right to use the asset for a specified period.

Lessee

The party in a lease agreement who uses or occupies the leased asset and is obligated to pay the lease payment to the lessor.

Gain insight into the value of intangible assets and the method of amortizing them.

Verified Answer

Final Answer :

True

Explanation :

A leasehold refers to the rights that are given to the lessee by the lessor according to the terms of the lease agreement.

Learning Objectives

Gain insight into the value of intangible assets and the method of amortizing them.