Multiple Choice
Which of the following facts would require a lessor to classify a lease as an operating lease?
A) No important uncertainties exist about unreimbursable costs yet to be incurred by the lessor.
B) The collectibility of the minimum lease payments is reasonably assured.
C) The lease term is 75% of the estimated economic life of the leased property.
D) The sum of the minimum lease payments is 90% of the fair value of the leased property to the lessor.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: Any initial direct costs incurred by the
Q38: If a lessor has an account, Equipment
Q39: Which of the following statements is true
Q40: Any initial direct costs incurred by the
Q41: If a lease is classified as a
Q43: In certain respects, IFRS provide more principles-based
Q44: When a lessee makes periodic cash payments
Q45: The lessee should classify a non-cancellable long-term
Q46: An operating lease should be recorded in
Q47: If a lease qualifies as a capital