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For a lessee, the minimum lease payments may include a. the minimum rental payments, a bargain purchase option, and a guaranteed residual value. b. a bargain purchase option and a guaranteed residual value. c. the minimum rental payments and a bargain purchase option only. d. the minimum rental payments and a guaranteed residual value only. From the Lessee's point of view, what would be a future value input (FV) in calculating the present present value (PV) of minimum lease payments? a. Guaranteed residual value b. Unguaranteed residual value c. Bargain purchase option d. Bargain purchase option OR guaranteed residual value What makes up the current portion of lease liability on a statement of financial position for the Lessee? a. Carrying balance of next lease payment + accrued interest (if any) b. Principal of next lease payment c. Principal of next lease payment + accrued interest (if any) d. Carrying balance of next lease payment Which of the following is a correct statement regarding one of the ASPE capitalization criteria? a. The fair value of the minimum lease payments is equal to 90% or more of the present value of the leased asset. b. The lease must contain a bargain purchase option. c. The lease transfers ownership of the property to the lessor. d. The lease term is 75% or more of the leased property's estimated economic life. A Lessor is given the right to use the leased property? Select one: True False For a lessee, the minimum lease payments may include a. the minimum rental payments, a bargain purchase option, and a guaranteed residual value. b. a bargain purchase option and a guaranteed residual value. c. the minimum rental payments and a bargain purchase option only. d. the minimum rental payments and a guaranteed residual value only. From the Lessee's point of view, what would be a future value input (FV) in calculating the present present value (PV) of minimum lease payments? a. Guaranteed residual value b. Unguaranteed residual value c. Bargain purchase option d. Bargain purchase option OR guaranteed residual value What makes up the current portion of lease liability on a statement of financial position for the Lessee? a. Carrying balance of next lease payment + accrued interest (if any) b. Principal of next lease payment c. Principal of next lease payment + accrued interest (if any) d. Carrying balance of next lease payment Which of the following is a correct statement regarding one of the ASPE capitalization criteria? a. The fair value of the minimum lease payments is equal to 90% or more of the present value of the leased asset. b. The lease must contain a bargain purchase option. c. The lease transfers ownership of the property to the lessor. d. The lease term is 75% or more of the leased property's estimated economic life. A Lessor is given the right to use the leased property? Select one: True False