Final answer:
False, the present value of the unguaranteed residual value is not included in the calculation of the minimum lease payments for the lessee, which generally consists of the present value of required lease payments and any guaranteed residual value.
Step-by-step explanation:
The statement "The present value of the unguaranteed residual value is included in the calculation of the minimum lease payments for the lessee" is false. The minimum lease payments from the perspective of the lessee typically include the present value of all lease payments required to be made during the lease term and the present value of the guaranteed residual value, if any. The unguaranteed residual value is not included because it represents a potential additional cost that is not obligatory for the lessee. Lease accounting standards require that lessees record an asset and liability at the beginning of the lease term in an amount equal to the present value of lease payments, including the present value of the guaranteed residual value.