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What is the residual value guarantee in a lease? [FINANCIAL ACCOUNTING] a) Included in lease liability at present value b) Always excluded from lease payments c) Never included in lease liability d) Only included if provided by lessor

What is the residual value guarantee in a lease? [FINANCIAL ACCOUNTING] a) Included in lease liability at present value b) Always excluded from lease payments c) Never included in lease liability d) Only included if provided by lessor

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter20: Accounting For Leases
Section: Chapter Questions
Problem 13GI: What is the basic difference between the accounting procedures used by a lessor for a sales-type...
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What is the residual value guarantee in a lease? [FINANCIAL ACCOUNTING] a) Included in lease liability at present value b) Always excluded from lease payments c) Never included in lease liability d) Only included if provided by lessor
Transcribed Image Text:What is the residual value guarantee in a lease? [FINANCIAL ACCOUNTING] a) Included in lease liability at present value b) Always excluded from lease payments c) Never included in lease liability d) Only included if provided by lessor
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