Which of the following is NOT one of the situations provided in AASB 117 in relation to the classification of leases as finance leases?
A) Losses from the fluctuation of the fair value of the residual accrue to the lessee
B) Leased assets are of a specialised nature
C) The lessee has provided a guarantee that they will acquire the asset at the end of the lease term
D) The lease is for a major part of the economic life of the asset.
Correct Answer:
Verified
Q1: A lessee when accounting for a lease
Q1: The user of a leased asset is
Q5: On inception date,the present value of the
Q6: On 30 June 2013, Mala Ltd leased
Q9: Nelson Ltd manufactures specialised machinery for both
Q11: The journal entry recorded by the lessee
Q12: A finance lease is an agreement between
Q17: If a sale and leaseback transaction results
Q18: The minimum lease payment is defined as
Q24: Which of the following is an appropriate
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents