The Lessor Should Report the Lease Receivable for a Sales-Type

question 63

Multiple Choice

The lessor should report the Lease Receivable for a sales-type lease on its balance sheet as

• A)a current asset
• B)a long-term asset
• C)a current asset for the current portion and a long-term asset for the remaining amount
• D)only a note to the financial statements

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Definitions:

Social Readjustment Rating Scale (SRRS)

A psychological instrument that measures the stress of individuals through the quantification of major life events.

Significant Amount

A quantity or level that is large enough to have a meaningful impact or effect, often determined in a statistical or contextual sense.

Life Events

Significant occurrences or changes in a person's life that can have a profound impact on their well-being and psychological state.

Physical Responses

Bodily reactions to external stimuli, including physiological changes like heart rate increase or sweating.