Agrimat sells a combine harvester to a farmer for EUR 300,000 and retains the right to repurchase it in two years for EUR 220,000; the transaction is not part of a sale and leaseback. True or false: Agrimat does not recognise a sale, and the arrangement is accounted for as a lease in accordance with IFRS 16, because the repurchase price is lower than the original selling price.
True / falseAdvancedPublished