What is defined as the sum of the lease payments received

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Reference no: EM132714491

Problem 1: What is defined as the sum of the lease payments received by a lessor under a finance lease and any unguaranteed residual value accruing to the lessor?

Select one:

a. Gross investment in the lease

b. Guaranteed minimum lease payment

c. Lease receivable

d. Net investment in the lease

Problem 2: A typical lease agreement will always set out all of the following except:

Select one:

a. the amount and timing of the lease (rental) payments

b. that the lease is non-cancellable by either party

c. the period of the lease

d. who is responsible for the payment of maintenance and repair costs, insurance and taxes

Reference no: EM132714491

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