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    Question

    Under Ind AS 116, in the case of a finance lease, how is

    a leased asset presented in financial statements?
    A Recognised anly in the backs of the lessee as a right-of-use asset Correct Answer Incorrect Answer
    B Recognised simultaneously by both lessor and lessee Correct Answer Incorrect Answer
    C Recognised only in the books of the lessor as an owned asset Correct Answer Incorrect Answer
    D Not recognised by either party, as it remains off-balance sheet Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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