Final answer:
The question addresses the disclosures required of a lessor in a lease agreement. The required disclosures include future minimum lease payments, contingent rentals, and components of net investment in leases. These ensure transparency in the financial reporting of lease transactions.
Step-by-step explanation:
The question pertains to the required disclosures of a lessor in lease transactions according to accounting standards. In lease agreements, there are specific pieces of information the lessor must disclose to provide clarity on the financial implications of the lease. These disclosures help in understanding the lessor's financial position and the expected future benefits from the lease.
Among the options provided, the disclosures that are required include:Future minimum lease payments to be received for each of the five succeeding years.Total contingent rentals included in income for each period for which an income statement is presented.The components of the net investment in sales-type and direct financing leases as of each balance sheet date.Each of these disclosures provides important financial information related to lease agreements that is beneficial not only to the lessor but also to investors and stakeholders who are analyzing the lessor's financial statements.