With Respect to Operating Leases, Lessors Are Required Under IAS

question 8

Multiple Choice

With respect to operating leases, lessors are required under IAS 17 Leases, to make the following disclosures:
I Total contingent rents recognised as income in the period.
II Future minimum lease payments under individual, cancellable operating leases, separately.
III A general description of the lessee's leasing arrangements.
IV Future minimum lease payments under non-cancellable operating leases in aggregate.

• A) I, II and III only
• B) I, III and IV only
• C) II and III only
• D) I, II and IV only.

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Definitions:

Illustrates

Shows or provides examples to clarify or make something visible or understandable, often used in the context of explaining concepts with diagrams or images.

Whale Intermediates

Transitional fossil forms that provide evidence for the evolutionary lineage of whales from land-dwelling mammals.

Four-Legged

Pertaining to organisms, primarily terrestrial vertebrates, that have four limbs, a characteristic feature of tetrapods including mammals, reptiles, and amphibians.

Land Dwelling Mammals

Mammals that primarily inhabit terrestrial environments, as opposed to aquatic or aerial settings, adapted to various landscapes including forests, deserts, and mountains.