If a Corporation Adhering to IFRS Sells Machinery at Fair

Multiple Choice

If a corporation adhering to IFRS sells machinery at fair value and then leases it back (sale-leaseback) as a finance lease, any gain on the sale should be

A) recognized in the year of "sale."
B) recorded as other comprehensive income.
C) deferred and amortized to income over the term of the lease.
D) deferred and recognized as income at the end of the lease.