Statement 1: When the residual value is guaranteed by the lessee, the lessor shall include the same in its gross investment and net investment. Statement 1: When the residual value is not guaranteed by the lessee, the lessor shall include the same in its gross investment and net investment. Group of answer choices Only statement 2 is correct Both statements are incorrect. Both statements are correct Only statement 1 is correct
Statement 1: When the residual value is guaranteed by the lessee, the lessor shall include the same in its gross investment and net investment. Statement 1: When the residual value is not guaranteed by the lessee, the lessor shall include the same in its gross investment and net investment. Group of answer choices Only statement 2 is correct Both statements are incorrect. Both statements are correct Only statement 1 is correct
Chapter3: Income Sources
Section: Chapter Questions
Problem 12DQ
Related questions
Question
Statement 1: When the residual value is guaranteed by the lessee, the lessor shall include the same in its gross investment and net investment.
Statement 1: When the residual value is not guaranteed by the lessee, the lessor shall include the same in its gross investment and net investment.
Group of answer choices
Only statement 2 is correct
Both statements are incorrect.
Both statements are correct
Only statement 1 is correct
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