Question $6$

IFRS uses the term contingent lease payments while ASPE uses the term variable lease payments.

Question $6$ options:

True

False

A lessor's initial direct costs $($e$.$g$.,$ commissions or legal fees$)$ are capitalized as part of the lessor's cash flow and amortized over the lease period in both IFRS and ASPE.

Question $7$ options:

True

False

Sales$-$type leases are essentially a selling tool used by manufacturers to sell their merchandise.

Question $8$ options:

True

False

Question $9(1$ point$)$

Under ASPE, periodic rent expense for a lessee is likely to be the same over successive periods for both operating and capital leases.

Question $9$ options:

True

False