AASB 117 applies to all leases that involve:
A)regenerating assets
B)contracts for services that transfer the right to use assets
C)the exploration or use of minerals,oil and natural gas
D)investment property

Question

Quizplus · Accepted Answer

AASB 117 applies to all leases that involve contracts for services that transfer the right to use assets. It does not apply to leases for regenerating assets, exploration or use of minerals, oil and natural gas, or investment property.

AASB 117 Applies to All Leases That Involve