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Under Ind AS 116, how does a lessee account for most leases?

A By recognising a right-of-use asset and a corresponding lease liability
B By expensing lease payments as incurred
C By capitalising only finance leases
D By disclosing them in the notes only

Answer

By recognising a right-of-use asset and a corresponding lease liability

The operating and finance lease distinction was largely removed for lessees, bringing most leases onto the balance sheet.

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