Consider the following regarding lease. (i) A legal document outlining the terms under which one party agress to rent property from another party. (ii) This guarantees the lessee use of an asset and guarantees the lessor regular payments from the lessee for a specified number of months or years. Which of the following is/are correct?

• A. Only I
• B. Only II
• C. Both I and II
• D. None of these