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Please help me solve the questions and check my answers for the first two questions. The lease receivable amount includes the present value of rental
Please help me solve the questions and check my answers for the first two questions.
The lease receivable amount includes the present value of rental payments plus the present value of guaranteed and unguaranteed residual values. rental payments only. rental payments plus the present value of the unguaranteed residual value only rental payments plus the present value of the guaranteed residual value only. QUESTION 2 From the lessee's perspective, in the earlier years of a lease, finance leases will enable the lessee to report higher income, compared to operating leases. finance leases will cause debt to increase, compared to operating leases. operating leases will cause income to increase, compared to finance leases. per o operating leases will cause debt to increase, compared to finance leases. QUESTION 3 A single lease expense is recognized on the income statement for an operating lease. a finance lease. both a finance lease and an operating lease. neither a finance lease or an operating leaseStep by Step Solution
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