Question: ( 6 ) UWorld ROGER CPA Review A six - year finance lease that specifies equal annual lease payments expires on December 3 1 st
UWorld ROGER
CPA Review
A sixyear finance lease that specifies equal annual lease payments expires on December st The payments being made represent both interest and a reduction in the net lease liability. The portion of the lease payment in the fifth year applicable to the reduction of the net lease liability should be:
Multiple Choice
The same as in the sixth year.
More than in the fourth year.
More than in the sixth year.
Less than in the fourth year.
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