Final answer:
The statement in question is false as the lease term cannot be measured in 6000 units. Lease terms are typically measured in months or years.
Step-by-step explanation:
The question is about the accuracy of a statement regarding lease payments for machinery. The statement is as follows - On December 31, 2019, Blossom Company leased machinery from Terminator Corporation. Payments of $12,000, lease term is 6000. The student is asked to determine whether this statement is true or false.
To answer the question, we need to understand the concept of lease payments. Lease payments refer to regular payments made by a lessee to a lessor for the use of an asset, in this case, machinery. These payments are usually made over a specified lease term, which is the agreed-upon period of time for which the machinery is leased.
In the given statement, the lease term is mentioned as 6000, which seems unusual as lease terms are typically measured in months or years. Therefore, the given statement appears to be incorrect, and the answer to the question is b) False.