Paragraph 47 of AASB 117 Requires That for a Finance

question 22

Multiple Choice

Paragraph 47 of AASB 117 requires that for a finance lease,the lessor must disclose.

• A) the guaranteed residual values accruing to the lessor.
• B) unearned finance income.
• C) contingent rents recognised as expenses in the period.
• D) the guaranteed residual values accruing to the lessor and unearned finance income.
• E) None of the given answers

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Definitions:

Acid Base

Refers to the concepts, reactions, and processes involving acids and bases, including their behavior, properties, and their role in maintaining physiological pH balance.

Endocrine System

A network of glands and organs that produce, store, and release hormones into the bloodstream, regulating many of the body's processes such as metabolism, growth, and development.

Respiratory System

The network of organs and tissues that help you breathe, including the lungs, airways, and muscles of respiration.

Digestive System

The group of organs responsible for the breakdown and absorption of food and nutrients, and the elimination of waste.