QUESTION 7 0.5 points According to AASB 16, an entity that provides the right to use an underlying asset for a period of time in exchange for consideration is termed as Lessor. True O False QUESTIONS 0.5 point In terms of scope, the accounting standard does not apply to all leases. Specifically, paragraphs 3 and 4 of MSB 16 state: 'An entity shall apply this Standard to all leases, including leases of right-of-use assets in a sublease,' except for which among the following? leases to explore for or use minerals, oil, natural gas and similar non-repenerative resources O leases of biological assets within the scope of AASB 141 Agriculture held by a lessee O service concession arrangements within the scope of Interpretation 12 Service Concession Arrangements O All of the given options are correct