The Following Is an Extract from a Lease Payment Schedule

question 72

Multiple Choice

The following is an extract from a lease payment schedule for Lessee Pty Limited.Assuming Lessee Pty Limited uses the current/non-current dichotomy to disclose liabilities,what are the amounts of (a) current liabilities; and (b) non-current liabilities,relating to this lease,disclosed by Lessee Pty Limited at 30 June 2012?

• A) (a) current 2,601; (b) non-current 26,012.
• B) (a) current 1,976; (b) non-current 13,268.
• C) (a) current 1,796; (b) non-current 15,243.
• D) (a) current 1,633; (b) non-current 17,039.
• E) Cannot determine from the information provided above.

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Definitions:

Slave Trade

The historical trade of enslaved people, particularly across the Atlantic Ocean from Africa to the Americas, that peaked in the 17th to 19th centuries, involving millions of Africans being forcibly transported and sold.

Independent Treasury Bill

Legislation passed in 1840 and later in 1846 establishing a system where the U.S. government managed its own funds independently of private banks, storing money in Treasury buildings.

Economic Crisis

A situation characterized by a significant decline in the economy of a country or globally, leading to a decrease in consumer wealth, business failures, and increased unemployment.

Central Treasury

A central department or facility responsible for managing the government's revenue, money, and financial policies.