22) While only certain leases are currently accounted for as a sale or purchase, there is theoretical justification for considering all leases to be sales or purchases. The principal reason that supports this idea is that 22) A) during the life of the lease the lessee can effectively treat the property as if it were owned. B) at the end of the lease the property usually can be purchased by the lessee. C) all leases are generally for the economic life of the property and the residual value of the property at the end of the lease is minimal. D) a lease reflects the purchase or sale of a quantifiable right to the use of property. 23) In a finance lease, the lease receivable amount includes the present value of 23) A) rental payments only. B) rental payments plus the present value of the unguaranteed residual value only. C) rental payments plus the present value of the guaranteed residual value only. D) rental payments plus the present value of the expected residual value probable of being owed. 24) Which of the following would be included in the Lease Receivable account? I. Guaranteed residual value II. Unguaranteed residual value III. Executory costs IV. Rental payments 24) A) I and III only B) I and II only C) II, III, and IV D) I, II, and IV