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please answer all the questions immediately thankyou 1. A short-term lease has a lease term of less than or equal to 12 months. * (1

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please answer all the questions immediately thankyou

1. A short-term lease has a lease term of less than or equal to 12 months. * (1 Point) TRUE FALSE 2. Which of the following shall be recognized by the Lessee in accordance with PFRS 16?* (1 Point) Right of use asset and lease liability Corresponding PPE account and lease liability Right of use liability and lease liability Lease asset only 3. In provision, there is an uncertainty of either timing or amount and this sets a provision apart from other liabilities. * (1 Point) TRUE FALSE 4. For an event to be an obligating event, it is necessary that the entity has no realistic alternative but to settle the obligation created by the event and this is the case 1. Where the settlement of the obligation can be enforced by law. II. Where the event creates a valid expectation in other parties that the entity will discharge the obligation as in the case of a constructive obligation. * (Point) Either or 1 N only I only O Neither i nors 5. A short-term lease is defined as * IT (1 Point) Equal to the normal operating cycle of the lessor 6 months or less Equal to or less than 12 months A lease that is 12 months with an option to purchase at the end of the term

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