alleryStart learning →Which of these arrangements is excluded from the scope of AS 19?
AHire of motor vehicles
BLease of an aircraft
CLease of plant and machinery
DLease agreements to use lands
Answer & Solution
Correct answer: D. Lease agreements to use lands
Scope paragraph 1(c) leaves out lease agreements to use lands, while equipment and vehicle leases are covered.
Keep practising AS 19 Leases
Browse all AS 19 Leases questions for CA Inter, or explore more Accounting topics.
Related questions
Leaving a finance lease off the lessee's balance sheet understates obligations and distortFor a lessee, the amount of a residual value guarantee is theA lessor on finance leases also discloses accumulated provision forWhich must a lessor disclose for finance leases?In a finance leaseback, the carrying amount is written down only if there isLeaseback below fair value, loss offset by cheap rentals, isAsset sold at fair value Rs 6 lakh, carrying amount Rs 8 lakh, operating leaseback. Loss rOperating leaseback above fair value: the excess is