Question

Lessors classify and account for all leases that don't qualify as sales-type leases as operating leases.

a) True
b) False

Answer 1

Sharecroppers were indeed tenant farmers who paid their rent with shares of their crops, a practice especially common in the southern United States post-Civil War.

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 common system used 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.

It was particularly prevalent during the Reconstruction era as it provided a way for impoverished individuals, including freedmen and poor whites, to work on a farm without the need for cash, which was scarce at the time.