operator treats the resurfacing services included in a service concession arrangement as a separate performance obligation if: A. The resurfacing is to be performed only when the infrastructure deteriorates below a specified condition.  B. The resurfacing is to be performed only when the infrastructure is used beyond a specified level of usage.

Q: Of what significance is (a) an unguaranteed and (b) a guaranteed residual value in the lessor's…

A: The amount to be recovered by the lessor is the same whether the residual value is guaranteed or…

Q: Briefly describe the conceptual basis for asset and liability recognition under the right-of-use…

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Q: Based on the requirements and guidance of IFRS 15, one of the following is not considered part of…

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Q: The amount of gain (loss) on sale and leaseback transaction is: Group of answer choices The…

A: Sales and lease back transaction refers to the transaction where an asset is sold by the seller to a…

Q: Which of the following dictates how the revenue from the sale of production will be distributed:

A: Lease:   Lease is a contractual agreement whereby the right to use an asset for a particular period…

Q: Question text Under IFRS, which of the following statements is true regarding accounting for defined…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following statements is true? Group of answer choices The right-of-use asset is…

A: The objective of the question is to identify the correct statement about the calculation of the…

Q: If the residual value of a leased asset is guaranteed by a third party:

A: A lease is an arrangement under which a lessor agrees to allow a lessee to control the use of…

Q: Under ASPE, the lessor is required to expense any direct costs associated with a lease up front.…

A: Accounting Standards for Private Enterprises Accounting Standards for Private Enterprises is an…

Q: When a contract includes an option to buy additional goods or services, when does that option give…

A: Contract: Contract is a written document that creates legal agreement between the parties for buying…

Q: Which of the following should be included by the lessee in determining the amount of the…

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period…

Q: Are there advantages of leasing its equipment that HG should consider?

A:

Q: Briefly discuss the conceptual foundation for asset and liability recognition in a lease transaction…

A: The question tells about the conceptual foundation for asset and liability recognition in a lease…

Q: Explain the accounting for contract modifications.

A: Contract modification may occur when any addition, change or cancellation of specific terms and…

Q: lessee

A: Lease is a financial arrangement where the right to use the asset is given by the owner to another…

Q: xplicitly identified in the contract, it means that: a. the identified asset is never mentioned in…

A: When the asset is implicitly identified, this means asset is implied but is not directly expressed.…

Q: Briefly explain the conditions when a contract modification shall be accounted for as a separate…

A:

Q: agreement at method e-of-completion method ent method

A: The revenue recognition method that is applied to long term contracts is percentage of completion…

Q: Explain an example of long-term construction contracts qualify for revenue recognition over time.

A: As per Accounting Standards Codification, revenue should be recognised when the seller satisfies…

Q: Why is the reporting of leases required? Justify your response.

A: A lease is an agreement where an asset is taken on rent and Lessor receives Lease rental in return.…

Q: Explain how an entity would initially and subsequently measure its right-of-use asset and lease…

A: Lease Liability: Initial measurement: The Lease Liability is initially measured at the present…

Q: Explain the impact on lease accounting of other payments, including nonleasepayments, initial direct…

A: Uncertainties in lease transactions: There are several issues with respect to lease transactions…

Q: If the lessor has a substitution right throughout the period of use of the leased asset, which of…

A: A substantive substitution right exists if the lessor has the practical ability to substitute…

Q: right of use asset and a lease liability on the part of the lessee?

A: Lease -: A Lease is an agreement summarizing the conditions in which one party decides to rent…

Q: What is the difference between the assignment of a take-out commitment to the construction lender…

A: Take-out commitment is an agreement between lender and borrower in which lender provides guarantee…

Q: Pollution remediation obligations is related to --------------- Select one: a. Debt services b.…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS A long-term liability must be reported, when an…

Q: Under the completed-contract method, the Contract Asset/Liability account balance will consist of O…

A: The completed contract method is an accounting approach where revenue and expenses from long-term…

Q: customer can direct the use of the asset. The asset is explicitly or implicitly identified in the…

A: Identified asset:I An asset whose fair value or market value can be calculated at particular given…

Q: Which is not within the definition of an intangible asset? A resource from which future economic…

A: Unlike tangible  Assets  these Intangible Assets  are difficult  to valuate

Q: Describe the procedures for conducting a goodwill impairment test.

A: Goodwill: Goodwill is an intangible asset. It is defined as the excess of cost of an acquired…

Q: The right-of-use asset may be measured using the following models except for: Group of answer…

A: The right of use asset is measured by adding the lease liability and initial direct cost of the…

Q: Identify the term being referred to: An agreement where one party conveys to the another party the…

A: The question contains an agreement between two parties . One party coveys the right to use the asset…

Q: In calculating the amortization of a leased asset, the lessee should subtract a   Select one: a.…

A: Amortization- Amortization refers to spreading payments over manifold periods. The word is used for…

Q: What two methods are identified in the Codification as appropriate in accounting for long-term…

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Q: What are the benefits of adopting a Condition Base Monitoring (PredictiveMaintenance) in the…

A: A condition monitoring system is a critical component of AM and reliability. CMS scope typically…

Q: lease

A: What is the treatment of unguaranteed residual value in determining the cost of sales under a sales…