Which of the following best describes the purpose of a lease option?

A lease option is an agreement that allows a lessee to purchase the leased asset at a predetermined price within a specified period. This type of provision is particularly beneficial for the lessee, as it provides the opportunity to own the asset while initially only committing to a lease. If the lessee decides to exercise the option, it can lead to ownership without the immediate financial burden of purchasing the asset outright at the beginning of the lease term.

This arrangement can be valuable for several reasons: it allows the lessee to evaluate the asset's performance during the lease term and reassess its needs before making a purchase decision. Additionally, the predetermined purchase price can protect the lessee from potential market fluctuations.

While the other options do involve various aspects of leasing and financial agreements, they do not accurately represent the fundamental purpose of a lease option, which is centered around the right to acquire the asset at a fixed price.