Under IAS 17,operating leases require the following disclosures by lessees:

Question

Quizplus · Accepted Answer

Under IAS 17, lessees are required to disclose the total of future minimum sublease payments expected to be received under non-cancellable subleases at the statement of financial position date, as well as a general description of their significant leasing arrangements. This information helps users of financial statements understand the nature and extent of a lessee's leasing commitments and obligations. Option A and C are incorrect because operating leases are not expensed each year, and there is a requirement for disclosures. Option B is partially correct in that a general description of significant leasing arrangements is required, but it is not sufficient on its own.

Under IAS 17,operating Leases Require the Following Disclosures by Lessees