Question

In computing the annual lease payments, the lessor deducts only a guaranteed residual value from the fair value of a leased asset.

a) True
b) False

Answer 1

The statement regarding sharecroppers is true; they paid their rent in the form of a share of the crops they produced.

Step-by-step explanation:

The statement that sharecroppers were tenant farmers who paid their rent with shares of their crops is true. Sharecropping was a system of agriculture that became common in the Southern United States after the Civil War, where landowners allowed tenant farmers to use their land in return for a portion of the crops produced on their portion of land, as a form of rent.