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A New System

question 52

Multiple Choice

A new system:

Determine the present value of lease payments under finance lease agreements.
Identify the scope and exclusions of AASB 16/IFRS 16 regarding lease agreements.
Comprehend the concept of risks and rewards of ownership of an asset in the context of leasing.
Execute proper journal entries for the initial recognition of finance and operating leases by lessors.

Definitions:

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