If a Corporation Adhering to IFRS Sells Machinery at Fair

question 30

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.

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Definitions:

Treatment Plan

A detailed plan tailored to an individual patient, outlining the approach, methods, and goals of treatment.

Adaptive

Having the ability to adjust to new conditions or environments, or modify oneself to fit new or changing circumstances.

General Adaptation Syndrome

A three-stage response (alarm, resistance, exhaustion) that the body goes through when under stress, described by Hans Selye.

Blood Pressure

The force exerted by circulating blood on the walls of the body's arteries, a critical vital sign indicating the health of the cardiovascular system.