Answer the question below

1. What is finance lease?

2. What is joint arrangement?

3. What are some potential benefits of adopting IFRS 16?

4. Define protective rights?

5. What is the different between operating lease and financial lease?

6.What is the role principal market in accounting for assets?

7. What is the interest rate benchmark reforms?

8. What is variable lease payment?

9. What is cost model?

10. Does IFRS 13 allow fair value to be measured by reference to an asset or liability components?