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8. Under IFRS, sales contracts with multiple deliverables may be treated as though they were a single element, for the sake of simplicity. True False
8. Under IFRS, sales contracts with multiple deliverables may be treated as though they were a single element, for the sake of simplicity. True False 9. Assets needed only on a temporary basis is a legitimatereason for leasing rather than buying. True False 10. Under ASPE, the lessor is required to expense any direct costs associated with a lease up front. True False 11. The lessor recognizes two different kinds of earnings for a sales-type lease; that is, dealer's profit and interest revenue. True False 12. To qualify as a lessor for tax purposes, a company must derive at least 90% of its revenues from leasing. True False 13. The lease component in a sale-and-leaseback arrangement may be short-term or longterm. True False
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