It could be argued that a lease is a long-term contract and that as soon as the
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It could be argued that a lease is a long-term contract and that as soon as the lessee exercises control some consideration has passed and hence the contract is binding on both parties. Then accounting for leases is not substance over form but rather a recognition of the true legal position. Discuss.
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A lease is a long term contract between a less or and a les see The les see exercises control over t...View the full answer
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Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
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