1. Which one of the following is incorrect? A. A lessee may reassess the lease classification when the lease contract is modified. B. A lessee shall reassess the lease classification when new circumstance leads to changes in the lease term. C. A lessor shall reassess the lease classification when new circumstance leads to changes in the lease term. D. A lessee shall reassess the lease classification when new circumstance leads to a purchase option that was not reasonably certain of being exercised to become reasonably certain of being exercised. Illini Company signed a lease to rent a computer for 4 years on 1/1/15. On 1/1/16, Illini modified the lease to rent another computer for the remaining 3 years with a 10% discount in its rent. Which one of the following is correct? A. Ilni shall reassess the classification for the original lease B. Illini shall remeasure the original lease. C. Illini shall account for the modification as a new lease D. None of the above is correct