Question

a)A lessor discovers, while a long-term capital lease term is in progress, that an estimated material unguaranteed residual value of the leased property has probably become zero.
estimates
policies error
correction
b) Because of inability to estimate reliably, a contractor began business using the completed-contract method. Now that reliable estimates can be made, the percentage-of-completion method is adopted.
error correction
policies
estimates
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Answer 1

of the leased property has probably become zero.

estimates

policies error

correction

b) Because of inability to estimate reliably, a contractor began business using the completed-contract method. Now that reliable estimates can be made, the percentage-of-completion method is adopted.

error correction

policies

estimates