IFRS
Quiz
•
Professional Development
•
Professional Development
•
Practice Problem
•
Hard
Abel Nigatu
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
An entity shall apply IFRS 16 to all leases, except leases of right-of-use assets in a sublease.
True
False
2.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
A contract is, or contains, a lease if the contract conveys the right __________ an identified asset for a period of time in exchange for consideration.
To use
to control the use of
To obtain economic benefits from
To recognise depreciation changes of
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Which of the following shall a lessee recognise at the commencement date?
A) A right-of use asset
B) A lease liability
C) Deferred income
A and B
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
At the commencement date, a lessee shall measure the right-of-use asset at
Cost
Fair Value
Present Value
Value in use
5.
MULTIPLE CHOICE QUESTION
45 sec • 5 pts
An increase of the applicable discount rate will have the following impact for lessee:
A lower opertaing Profit
Higher RoU
Lower EBITDA
Lower Lease Liability
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