With respect to operating leases, lessors are required under IFRS 16 Leases to make the following disclosures:
I Total contingent rents recognised as income in the period
II Future minimum lease payments under individual, cancellable operating leases, separately
III A general description of the lessee's leasing arrangements
IV Future minimum lease payments under non-cancellable operating leases in aggregate.
A) I, II and III only;
B) I, III and IV only;
C) II and III only;
D) I, II and IV only.

Question

With respect to operating leases, lessors are required under IFRS 16 Leases to make the following disclosures:
 I Total contingent rents recognised as income in the period
II Future minimum lease payments under individual, cancellable operating leases, separately
III A general description of the lessee's leasing arrangements
IV Future minimum lease payments under non-cancellable operating leases in aggregate.
A) I, II and III only;
B) I, III and IV only;
C) II and III only;
D) I, II and IV only.

Quizplus · Accepted Answer

Under IFRS 16, lessors must disclose a general description of the leasing arrangements (III) and the total contingent rents recognised as income in the period (I). Future minimum lease payments under non-cancellable operating leases in aggregate (IV) must also be disclosed. However, there is no requirement to disclose future minimum lease payments under individual, cancellable operating leases separately (II), making option B correct.

With Respect to Operating Leases, Lessors Are Required Under IFRS