Question: IFRS has 2 exceptions for leases being capitalized: 1. low dollar value 2. short-term leases true false To be considered a sales-type lease, the fair

IFRS has 2 exceptions for leases being capitalized:

1. low dollar value

2. short-term leases

true
false

To be considered a sales-type lease, the fair value of the lease should be greater than the lessor's cost of the asset.

True
False

IFRS 16 uses a contract basis to evaluate lease contracts which results in almost all lease contracts to be capitalized as finance leases.

True
False

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