What Is a Requirement for Lease Disclosures Under IFRS

question 103

Multiple Choice

What is a requirement for lease disclosures under IFRS?

• A) IFRS requires disclosure of the fair value of all leased assets.
• B) IFRS requires disclosure of future lease payments for each of the next five years.
• C) IFRS requires that lessee companies disclose future lease payments for the first year, the total of years two through five, and the remaining aggregate payments.
• D) IFRS requires disclosure of rent expense for the five-year period.

---

Definitions:

Legal Status

The standing or condition of an entity or individual in the eyes of the law, including rights, responsibilities, and current legal state.

Negligently

Acting with a lack of due care or failing to take proper care in doing something, which can lead to harm or damage.

Material Alteration

A significant change to a document or contract that can affect its validity or alter its meaning and obligations.

Defense

The act of defending against a charge, accusation, or claim in legal proceedings or contexts.