A lessee is allowed to elect not to record a right$-$of$-$use asset and lease payable at the beginning of the lease term for a lease that has a lease term of $12$ months or having a value of $$5,000$ or less when using:

Multiple Choice

IFRS.

U$.$S$.$ GAAP.

Either U$.$S$.$ GAAP or IFRS.

Neither U$.$S$.$ GAAP nor IFRS.