Question 1 (0.5 points) Most changes in accounting principle are recognized by using the current approach. True False Question 2 (0.5 points) Both guaranteed and unguaranteed residual values should be included in the calculation of the lessee's total lease payments. True O False Question 3 (0.5 points) The lessee should use the lessor's borrowing rate (if known) to account for a lease, even if this provides a present value of lease payments that is higher than the fair value of the asset at the inception of the lease. True False Question 4 (0.5 points) When an asset's residual value estimate is changed, the entire depreciation schedule for the asset is recomputed all the way back to the date of acquisition. True False Question 5 (0.5 points) Some changes in accounting principle must be reported by using the retrospective approach. Question 5 (0.5 points) Some changes in accounting principle must be reported by using the retrospective approach. True False Question 6 (0.5 points) The fact that most accounting changes are not disclosed may lead to ethical concerns among stakeholders. True False