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A lessee is allowed to elect not to record a right-of-use asset and lease payable...

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Accounting

A lessee is allowed to elect not to record a right-of-use asset and lease payable at the beginning of the lease term for a lease that has a lease term of 12 months or having a value of $5,000 or less when using:

a. IFRS.

b. U.S. GAAP.

c. Either U.S. GAAP or IFRS.

d. Neither U.S. GAAP nor IFRS.

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