Leases: The following journal entry, in the books of Lessee Ltd, records the entry for the depreciation expense at 30 June 2018. The lease term is of 5 years duration. Which of the following statements is correct?

Q1.5) Leases: The following journal entry, in the books of Lessee Ltd, records the entry for the depreciation expense at 30 June 2018. The lease term is of 5 years duration. Which of the following statements is correct? (a) (b) Dr Lease depreciation expense 103 274 Cr Accumulated depreciation-leased asset 103 274 The economic life of the asset is 6 years; It is reasonably certain that the lessee will obtain ownership of the asset at the end of the lease term; It is reasonably certain that the lessee will not obtain ownership of the asset at the end of the lease term; or The economic life of the asset is 6 years; and it is reasonably certain that the lessee will obtain ownership of the asset at the end of the lease term. (c) (d)