1. Is there always a gain or loss when bonds are redeemed? How is the gain or loss calculated? 2. What are the reasons that not all leases are accounted for in the same manner? Do you think it would...

1. Is there always a gain or loss when bonds are redeemed? How is the gain or loss calculated?

2. What are the reasons that not all leases are accounted for in the same manner? Do you think it would be possible to develop a new accounting rule that would treat all leases in the same manner? Explain.