Under IFRS, the Criteria to Determine Whether a Lease Should

question 17

Multiple Choice

Under IFRS, the criteria to determine whether a lease should be capitalized include:

• A) the present value of the minimum lease payments is 90% or more of the fair value of the asset at the inception of the lease.
• B) the term of the lease is 75% or more of the economic life of the asset.
• C) the term of the lease is equal to substantially all of the economic life of the asset.
• D) the present value of the minimum lease payments is equal to substantially all of the fair value of the asset at the inception of the lease.

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