Quiz Summary
0 of 10 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 10 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- IFRS 16 – Leases 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Current
- Review
- Answered
- Correct
- Incorrect
-
Question 1 of 10
1. Question
Which types of lease are covered in IFRS 16?
CorrectIncorrect -
Question 2 of 10
2. Question
Which of the following situations will less likely lead to a lease being classified as a finance lease?
CorrectIncorrect -
Question 3 of 10
3. Question
Lease classification is made at the inception date and is reassessed only if there is a lease modification.
CorrectIncorrect -
Question 4 of 10
4. Question
Which of the following may give rise to a new classification of a lease for accounting purposes?
CorrectIncorrect -
Question 5 of 10
5. Question
At the commencement date, a lessee shall recognise assets held under a finance lease in its statement of financial position and present them as a receivable at an amount equal to the net investment in the lease.
CorrectIncorrect -
Question 6 of 10
6. Question
Which of the following statements is true?
CorrectIncorrect -
Question 7 of 10
7. Question
A manufacturer or dealer lessor does not recognise any selling profit on entering into an operating lease because it is not the equivalent of a sale.
CorrectIncorrect -
Question 8 of 10
8. Question
Which of the following does define unearned finance income?
CorrectIncorrect -
Question 9 of 10
9. Question
Which of the following are examples of future events that, at inception of the contract, would not be considered likely to occur and, thus, should be excluded from the evaluation?
CorrectIncorrect -
Question 10 of 10
10. Question
A lessee has made an accounting policy election not to recognise a right-of-use asset and a lease liability that arise from short-term leases for any class of underlying asset. The lessee enters into a 12-month lease of a vehicle, with an option to extend for another 12 months. The lessee does not have a significant economic incentive to exercise the option to extend. Which of the following statements is not true?
CorrectIncorrect