Final answer:
The statement is true; a guaranteed residual value is the amount the lessee guarantees to the lessor that the asset will be worth at the end of the lease, and the lessee will cover any shortfall.
Step-by-step explanation:
When the lessee agrees to make up any deficiency below a stated amount that the lessor realizes in residual value, that stated amount is the guaranteed residual value.
This statement is true. A guaranteed residual value is an assurance by the lessee to the lessor that the value of an asset at the end of the lease term will at least be a certain amount. If the actual residual value is lower than this guaranteed amount, the lessee is responsible for covering the difference. It is a common term in lease contracts where the eventual wear and tear and value of the asset are factors in the lease agreement.