Examlex
IFRS element performance refers to ________.
Possession and Use
The act of holding property and utilizing it, which may imply certain rights or obligations under the law.
Lease
A contract by which one party conveys land, property, services, or the use of assets to another party for a specified time, usually in return for a periodic payment.
Warranty of Title
A guarantee by a seller to a buyer that the seller has the right to sell the property and that there are no undisclosed liens or encumbrances against it.
Stolen Car
A vehicle that has been taken without the owner's consent, often leading to criminal charges against the person in possession.
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