Mixed Accounting Questions

True/ False Questions for Intermediate Accounting 2

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True/False 2. The choice of discount rate (i.e., the lessee's incremental borrowing rate versus the lessor's implicit rate), does not materially affect lease valuation for the lessee. 3. Contingencies are always accrued and recorded in the financial statements. 4. There is an incentive to structure lease terms to avoid capitalization for the lessee. 5. A subsequent event requires restatement. 6. Cash flows are not affected whether a bond is issued at par, at a premium or at a discount