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Is the lease non-cancellable - true or false

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Reference no: EM132623804

Problem 1: According to the former accounting standard AASB 117, if a lease transfers ownership of the property to the lessee, or contains a bargain purchase option, and the lease is non-cancellable then this is consistent with the lease being an operating lease.

  • True
  • False

Reference no: EM132623804

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