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please answer all the questions immediately thankyou 21. Provision can be created in anticipation of a possible future event or circumstance. * (1 Point) TRUE
please answer all the questions immediately thankyou
21. Provision can be created in anticipation of a possible future event or circumstance. * (1 Point) TRUE FALSE LU 22. A lessor shall classify each of its leases as either an operating lease or a finance lease. * (1 Point) TRUE FALSE 23. Under PFRS 16, a right of use asset is initially measured at Cost. (1 Point) TRUE FALSE 24. Which is not a component of cost of right of use asset? * (1 Point) Lease payment made to lessor on commencement date Lessee's initial direct cost The present value of lease payments Estimated cost of dismantling and restoring the underlying asset for which the lessee has no present obligation 25. Rent received in advance by the lessor recognize in an operating lease should be recognized as revenue (1 Point) When the rent was received In the period specified by the lease At the date of inception of lease o When the lease contract expiresStep by Step Solution
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