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dear tutor
could you please help me to understand the question, the last sentense states ” penalty of $6m for a leased asset which is deemed suplus to requirements”.
I really don’t understand what is implicated, what does “deemded suplus to requirements” mean? the answer says” it should be written off with a corresponding expenses to profit or loss”, why?
many thanksalso, what is the last sentense in the answer try to explain?
“the $6m will be offset against the corresponding lease liability with only a net figure being recorded in profit or loss”
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