Under AASB 16 Leases, a contract is, or contains a lease, where the contract conveys...
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Accounting
Under AASB Leases, a contract is or contains a lease, where the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.
Which of the following does not indicate the existence of a lease in accordance with the requirements of AASB Leases?
the contract conveys the right to obtain substantially all the economic benefits from the use of the identified asset
the supplier has right or obligation to substitute the asset only on or after, a particular date or the occurrence of a specified event
the supplier has a substantive substitution right to substitute the asset throughout the period of use
the right to direct the use of the identified asset
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