Question：Which combination of the following options best describes the characteristics of a finance lease?
A. One which transfers substantially all the risks and rewards of ownership to a lessee.
B. One where the life of the lease is 75% or more of the remaining life of the asset at inception of the lease.
C. One where the present value of the minimum lease payments amounts to substantially all of the fair value of the leased asset.
D. One where the commercial substance of a transaction reflects ownership eg. where the lessee has continuous use of the leased asset over its life.
The correct answers:One which transfers substantially all the risks and rewards of ownership to a lessee; One where the present value of the minimum lease payments amounts to substantially all of the fair value of the leased asset; and One where the commercial substance of a transaction reflects ownership eg. where the lessee has continuous use of the leased asset over its life.
解析：You must know the distinction between finance and operating leases. A finance lease transaction in substance is the same as ownership for the lessee, although legally the asset is still owned by the lessor. An operating lease is typically for a short time period and is essentially a contract for hire.
The '75% test' on life of the lease and life of the asset is not mentioned in IAS 17, although it is a commonly used test in US GAAP.
高顿网校温馨提醒
各位考生，2016年ACCA备考已经开始，为了方便各位学员能更加系统地掌握考试大纲的重点知识，帮助大家充分备考，体验实战，高顿网校开通了全免费的
ACCA题库（包括精题真题和全真模考系统），题库里附有详细的答案解析，学员可以通过多种题型加强练习。
戳这里进入ACCA免费题库>>>
写评论
