Under IFRS, If Land Is the Sole Property Being Leased

question 75

Multiple Choice

Under IFRS, if land is the sole property being leased, and title does transfer at the end of the lease, it should be accounted for as a(n)

• A) operating lease.
• B) capital lease.
• C) sales-type lease or financing lease.
• D) rental agreement.

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Definitions:

Balancing Relevance

The strategy of ensuring a brand or product remains pertinent and appealing to its target audience while adapting to market changes and trends.

Consistency

The characteristic of maintaining uniformity and reliability in actions, values, methods, measures, principles, expectations, and outcomes over time.

Traditional Approach

A conventional method or strategy that has been historically used, often based on established practices, values, or techniques.

Political Populism

A political approach that strives to appeal to ordinary people who feel their concerns are disregarded by established elite groups.