Which of the following is not a required disclosure by a lessor of a sales-type lease?
A)the guaranteed residual value accruing to the benefit of the lessor
B)total contingent rentals included in revenue for the period
C)unearned income
D)a general description of the lessor's leasing arrangements

Question

Quizplus · Accepted Answer

The guaranteed residual value accruing to the benefit of the lessor is a required disclosure by a lessor of a sales-type lease, as it impacts the lessor's recognition of revenue and lease income. All the other options listed are also required disclosures by a lessor of a sales-type lease.

Which of the Following Is Not a Required Disclosure by a Lessor