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Which of the following statements is correct in accordance with AASB 16 Leases? Variable lease payments may be increased or decreased during the lease term
Which of the following statements is correct in accordance with AASB 16 Leases? Variable lease payments may be increased or decreased during the lease term because of changes in facts and circumstances occurring after the asset is made available to the lessee to use, other than the passage of time. Payment for executory costs reimbursed by the lessee after being paid by the lessor on behalf of the lessee are included in the calculation of lease payments. A right-of use asset is required to be depreciated from lease commencement to the longer of the lease term and its useful life, only where the economic benefits to be realised from using the asset are for a period of greater than ten years. AASB 16 Leases defines a lease as a contract, or part of a contract, that conveys the right to transfer ownership of an asset for a period of time in exchange for considerations
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