Question
20 In computing depreciation of a leased asset, the lessee should subtract Oa. a guaranteed residual value and depreciate over the life of the asset.
20 In computing depreciation of a leased asset, the lessee should subtract Oa. a guaranteed residual value and depreciate over the life of the asset. Ob. an unguaranteed residual value and depreciate over the term of the lease. Oc. a guaranteed residual value and depreciate over the term of the lease. d. an unguaranteed residual value and depreciate over the life of the asset. QUESTION 21 Which of the following is accounted for as a change in accounting principle? a. A change in inventory valuation from average cost to FIFO. b. A change from the cash basis of accounting to the accrual basis of accounting. c. A change from expensing immaterial expenditures to deferring and amortizing them as they become material. d. A change in the estimated useful life of plant assets
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