There are lies and there are less than full truths.
I could say, "Sorry, but I loaned it to my cousin." You could say, "I lost it." or "I couldn't find it." (All of which could be true some time in the past.)
You don't say anything about your cousin ever giving it back. Just make sure that sometime in the past you actually had loaned it to your cousin.
This is why it is so important to prevent a gun registration scheme such as exists in England, Australia, most of Europe, and which the liberals have been trying to implement in Canada.
Under those schemes, all of the above would be illegal acts, punishable under law. You can't loan the guns, and if you "lose" one you must immediately report it to the police.
In addition, the guns *must* be locked up in a secure safe when not in actual use.
This is why gun registration is effectively gun confiscation.
The LAST thing I will be concerned with is making sure I don't lie to a cop who is committing a crime! In my eyes he would be a robber with a badge undeserving of the truth.