Q16	A hospital enters into a rental contract or a large number of hospital beds. Each bed within the contract constitutes an identified underlying asset and the other conditions for identification of a lease are met. The value of an individual hospital bed would be considered to be low, even though the contract for all the beds is not. The lessee will treat the lease as finance lease ignoring the low-value-asset exemption since the hospital can benefit from the use of the entire number of beds more than the individual use of the bed. True or False?
Q17	Sometimes a lease contract stipulates that the underlying asset must be returned to the lessor in the same condition as when originally leased. An underlying asset may suffer general wear and tear that is merely a result of being used. In such circumstances, an estimate of the repairs and maintenance should be made and be included in the computation of the cost of the right-of-use asset. True or False?
Q18	Company A leases a property to Company B for 10 years. The lease includes a renewal option under which Company B may extend the lease at the end of the lease. At the inception of the lease, exercise of the renewal option is not considered to be reasonably certain so the lease was classified as operating lease. Company B must give notice not later than 2 years before the end of the lease term if it intends to exercise the renewal option. Towards the end of the 8th year of the lease, Company B serves notice that it will renew the lease contract, thereby extending the lease to another 10 years making the total lease term equal to the estimated useful life of the property. This constitute a valid reassessment of the classification of the lease to finance. True or False?
Q19	Company A enters into a 5-year lease for 5,000 square meter office space with Company A. At the commencement of the lease, Company B sublease the 5,000 square meters of office space for 2 years to Company C. Company B classified the sublease as an operating lease. During the term of the sublease, Company B recognises a depreciation charge for the right-of-use asset and interest on the lease liability as well as recognise lease income from the sublease. True or False?
Q20	Variable lease payments under operating lease, other than those that are dependent on an index or a rate, should not be estimated and included in the total lease payments to be recognised on a straight-line basis over the lease term. True or False?