With Respect to Operating Leases,lessors Are Required Under AASB 117

question 11

Multiple Choice

With respect to operating leases,lessors are required under AASB 117 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:

Derived Demand

The demand for a good or service that arises from the demand for another good or service, for example, the demand for steel being driven by the demand for automobiles.

Noncustomers

Individuals or entities that are currently not purchasing or using a company's products or services but could potentially be converted into customers.

Direct Competitor

Entities that offer the same or similar products or services within the same market space and vie for the same potential customer base.

Brand Competitor

A brand competitor is a company or product that offers goods or services that are similar and target the same customer base as another product or brand.