Under IFRS, if the leased asset is for a low value asset, an entity may elect an exemption to not record the leased assets and liabilities on its balance sheet.

Name: Under IFRS, if the leased asset is for a low value asset, an entity may elect an exemption to not record the leased assets and liabilities on its balance sheet.
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Under IFRS 16, lessees can elect not to recognize lease assets and liabilities for leases of low-value assets, allowing them to expense these leases instead.

Under IFRS, If the Leased Asset Is for a Low