Question 15 View Policies Current Attempt in Progress When a lease has an unguaranteed residual value, the lessor reduces sales revenue and cost of goods sold by the present value of the unguaranteed residual value. True O False Question 16 View Policies Current Attempt in Progress If a lease includes a bargain purchase option, the lessee must increase the present value of the lease payments by the purchase option price. True O False Question 17 View Policies Current Attempt in Progress The basic difference between a direct-financing lease and a sales-type lease relates to the recognition of the profit on the sale. True O False Question 18 View Policies Current Attempt in Progress The gross profit amount in a sales-type lease is greater when a guaranteed residual value exists. O True O False