Which of the following statements is correct in accordance with AASB 16 Leases?

Group of answer choices

• A lease contract, or part of a lease contract, conveys the right to transfer ownership of an asset for a period of time in exchange for consideration.
• Payments that are made by a lessee at the commencement date are included in the initial amount recognized for the lease liability.
• Payment for executory costs reimbursed by the lessee after being paid by the lessor on behalf of the lessee are included in the calculation of lease payments.
• Variable lease payments may be increased or decreased during the lease term because of changes in facts and circumstances occurring after the asset is made available to the lessee to use, other than the passage of time.

Answer rating: 100% (QA)

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