What is the amount of expense reported as short-term leases

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Reference no: EM133415355

Assignment:

Refer to the financial statements, accompanying notes and Management Discussion and Analysis:

For each answer, please provide the appropriate source-specific note number, page reference in management discussion or other sources as applicable:

1. AutoCanada utilizes finance leases. What is the amount reported as the total lease liability for 2021, by classification? What is the amount of expense reported as short-term leases? What amount is reported for leases of low-value assets?

2. AutoCanada reports derivative financial instruments. What is the purpose of these derivative instruments? What derivatives are designated as hedges, and which derivatives are not designated as hedges? Briefly explain the accounting for derivatives not designated as a hedge and the accounting for derivatives designated as a hedge.

Reference no: EM133415355

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