Multiple Choice
At the end of a lease, if the actual residual value exceeds the residual value guaranteed by the lessee, ________.
A) the lessor must compensate the lessee for the difference
B) the lessee must compensate the lessor for the difference
C) the lessor has no obligation to compensate the lessee for the excess
D) the lessee will record miscellaneous income
Correct Answer:
Verified
Correct Answer:
Verified
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