Question: 14. All are examples of low value underlying assets except: a. Personal computers c. Equipment b. Office furniture d. Land 15. Lease liability is initially

14. All are examples of low value underlying assets except:

a. Personal computers c. Equipment

b. Office furniture d. Land

15. Lease liability is initially measured at

a. Present value of lease payments.

b. Future value of lease payments.

c. Annual lease payments.

d. Face amount of lease payments.

16. The date on which the lessee is entitled to exercise the right to use the underlying asset.

a. Date of lease agreement

b. Date of commitment of the parties to the principal provisions of the lease

c. Inception of the lease

d. Commencement of the lease

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