28. Lease income shall be recognized on a straight-line basis over the lease term, unless another systematic basis is more representative of the time pattern in which use benefit derived from the leased asset is diminished

a.Finance lease on the part of lessor

b.Finance lease on the part of lessee

c.Operating lease on the part of lessor.

d.Operating lease on the part of lessee

29. It is received by the lessor from the lessee that is recognized as unearned rent income to be amortized over the lease term

a.Security deposit.

b.Lease bonus

c.Initial direct cost.

d.None of the above.

30. Portion of the lease payment that is not fixed in amount but is based on a factor other than just the passage of time, for example, percentage of sales, amount of usage, price index, market rate of interest.

a. Executory cost

b. Contingent rent.

c. Executory rent

d. Contingent cost