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Luxury Auto LtdLtd is a high-end auto dealership. Their showroom is an impressive 8,000 square foot leased space in downtown Toronto.The company recently spent $9,000

Luxury Auto LtdLtd is a high-end auto dealership. Their showroom is an impressive 8,000 square foot leased space in downtown Toronto.The company recently spent $9,000 replacing windows broken during the recent theft incident. The company has reported this incident to the landlord.

Luxury Auto LtdLtd is a high-end auto dealership. Their showroom is an impressive 8,000 square foot leased space in downtown Toronto.The company recently spent $9,000 replacing windows broken during the recent theft incident. The company has reported this incident to the landlord.

Explain whether the above situation meets the assets criteria under the IFRS framework.

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