Question7 The value of the right of use asset at the commencement date (1 July 2024) is: 1,202,813 1,145,237 1,205,813 1,140,237 1,200,813 ResetMaximum marks: 1 Flag question undefined

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Question restatement: The question asks for the value of the right of use asset at the commencement date (1 July 2024) and provides five numerical options. The listed correct answer in the data is 1,205,813.

Option 1: 1,202,813. This value is very close to 1,205,813 but is lower by 3,000. In IFRS 16 terms, the initial recognition of the right-of-use (ROU) asset is typically equal to the lease liability plus any initial direct costs minus any lease incentives received. A difference of 3,000 would imply a small adjustment such as a miscalculation of initial direct costs, rounding, or an omitted incentive. If those components are otherwise correct, this could be a plausible but incorrect carry-forward value.

Option 2: 1,145,237. This figure is notably lower than the stated correct value. A discrepancy of about 60,576 suggests substantial misallocation of components (for example, omitting the lease liability portion or misrecording accretion/exemption). Such a large deviation is unlikely to be correct unless a major misentry occurred.

Option 3: 1,205,813. This is the value indicated as the correct answer in the provided data. In general, if the lease commenced on 1 July 2024, the ROU asset should reflect the measure of the lease liability at commencement plus any initial direct costs and minus any lease incentives. If those elements were exactly as reported to yield 1,205,813, this would be consistent with IFRS 16 initial recognition rules. However, without the underlying calculations or components shown, we cannot independently verify the exact composition here.

Option 4: 1,140,237. This option is even further from 1,205,813, differing by 65,576. Such a large gap would typically indicate either a substantial omission (e.g., missing incentive, costs, or misvalued liability) or a different starting measurement basis. Unless there is a clearly explained adjustment, this would usually be considered incorrect.

Option 5: 1,200,813. This value is close to 1,205,813 but still off by 5,000. Minor differences like this could arise from slight rounding or a small difference in included costs versus liabilities. If there were rounding in the components or a minor adjustment during measurement, this could be plausible but would still usually be deemed incorrect if the established calculation yields 1,205,813 exactly.

Overall, when evaluating these options, the central concept is that the ROU asset at initial recognition equals the lease liability plus any initial direct costs and minus any lease incentives. Small variances reflect potential rounding or component allocation differences, whereas larger gaps indicate misapplication of the measurement rules. Since the provided answer specifies 1,205,813, the option that matches that value aligns with the documented solution, while the other values would be incorrect under standard IFRS 16 initial recognition computations unless accompanied by specific, explained adjustments.

Question7 The value of the right of use asset at the commencement date (1 July 2024) is: 1,202,813 1,145,237 1,205,813 1,140,237 1,200,813 ResetMaximum marks: 1 Flag question undefined

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类似问题

An auditor is designing a substantive test of details of lease transactions to ensure that all right-of-use (ROU) lease assets have been included in the balance sheet. Which of the following is the best procedure?

Question8 The non-current liability portion of the lease liability as at 30 June 2025 is: 996,878 782,460 1,002,278 776,628 773,129 ResetMaximum marks: 1 Flag question undefined

Question8 The non-current liability portion of the lease liability as at 30 June 2025 is: 773,129 776,628 1,002,278 996,878 782,460 ResetMaximum marks: 1 Flag question undefined

Question7 The value of the right of use asset at the commencement date (1 July 2024) is: 1,140,237 1,202,813 1,205,813 1,200,813 1,145,237 ResetMaximum marks: 1 Flag question undefined

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