Which statement is true regarding the requirements of the Truth In Mileage Act?

The statement regarding the requirement of the Truth In Mileage Act that is accurate involves the need for both the buyer and the seller to sign and print their names on the odometer disclosure statement. This requirement ensures that there is a clear record of both parties agreeing to the terms of the mileage disclosure, which is a critical part of the transaction process. It enhances transparency in the sale of a used vehicle by confirming that both the buyer and the seller acknowledge the odometer reading as presented.

In the context of the other options, the possibility of "N" after the odometer reading does not indicate that the mileage is actual, as it is actually a notation for an odometer reading that exceeds the mechanical limits of the odometer or that it's not working properly. The customer is also entitled to a copy of the odometer statement as a protective measure, in order to maintain a record of the transaction. Lastly, while a lessor must provide specific disclosures, that requirement does not necessarily relate directly to the general requirements of the Truth In Mileage Act.