V POINTS 4 2 2 Questions about the Lessor 5 questions at 2 points each for 10 points total Complete the matrix by entering the proper label for a lease contract after the 5 qualifications tests are conducted [b] el 2 d] TESTS RESULTS Outcome 1 ahy one and up to 5 tests are passed Outcome 2 none of the 5 tests are passed Lessor's Labels Lessee's Labels Finance Operating In which kind of a lease contract does the Lessor recognize both sales and a lease receivable? (entier either sales-type lease or operating lease) In which kind of a lease does the lessor NOT record a sale and instead holds the asset and continues to depreciate it under other US GAAP Rules What was the principal problem faced by the major Irish Lessor AerCap in connection with the default and lease termination on its leases with AEROFLOT that were terminated by the EU sacctions against Russia due to its "special material operation" in Ukraine. Russia flew the leased aircraft back to Russia and it was pointed out that "poseession is 9/10ths of the law." The leased equipment would not be serviced for parts and may soon become unsafe to fly due to maintence shortfalls [b] (c) Th EURO and USDollars that Russia might have used to keep up lease payments were frozen in the international banking system your best choice, here [d] The Irish Lessors used Gaelic and British english in their contracts, and after the default the Russian counterparts insisted on communcating in Russian. Needless to say, there was a "failure to communicate NO worries Russia and Aeroflot will work this out. M