Question
entity A enters into a contract with business B providing b with the right to use a piece of production machinery for a five period
entity A enters into a contract with business B providing b with the right to use a piece of production machinery for a five period in exchange for annual payment to A of R1000 which of the following statements regarding ownership and control in this lease are correct?
a entity A control the benefits derived from the production machinery
b entity B holds ownership of the production machinery and enjoys the use of it
c entity A holds ownership of the production machinery and enjoys the use of it
d business b controls the benefits derived from the production machinery
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