CERTYNEX IFRS ACADEMY

Which of the following statements on recognition by the lessee at the commencement date are correct? (several answers)

The lessee recognises an expense equal to the total lease payments of the contract.

For a lease that is not exempt, the lessee recognises a right-of-use asset.

The lessee recognises a receivable from the lessor representing the future use of the asset.

For a lease that is not exempt, the lessee recognises a lease liability.

For a short-term lease for which it has elected the exemption, the lessee recognises neither a right-of-use asset nor a lease liability.