ACC 499 Midterm Part 1 ( Set 4 ) Question 1 In a sales-type lease Question 2
When is it appropriate for the lessee to use the lessor ' s implicit rate to discount the minimum lease payments ?
Question 3
When a lessee makes periodic cash payments for a capital lease , which of the following accounts is decreased ?
Question 4
The lessor should report the Lease Receivable for a sales-type lease on its balance sheet as
Question 5
FASB ' s rules concerning leases are an attempt to record in the financial statements
Question 6
When a lessor receives cash on a sales-type lease , which of the following accounts is decreased ?
Question 7
A capital lease should be recorded in the lessee ' s accounts at the inception of the lease in an amount equal to
Question 8 In a sales-leaseback transaction Question 9