Under AASB 117 Leases,lessors Are Required to Account for Lease

question 12

Multiple Choice

Under AASB 117 Leases,lessors are required to account for lease receipts from operating leases as:

• A)revenue,on a reducing balance basis over the lease term.
• B)income,on inception date of the lease.
• C)income,on a straight-line basis over the lease term.
• D)revenue,at the end of the lease term.

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Definitions:

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A basic form of evaluation that involves contrasting two or more items to highlight their differences or similarities.

Overall Picture

A broad, comprehensive view of a situation or concept, encompassing all relevant aspects and details.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature.

Opposite Sex

A term often used to describe individuals of the gender different from the speaker's identification.