Under IFRS, when a lessee recognizes a balance sheet asset and liability for a new lease: the asset and liability are equal. the asset is typically greater than the liability. the liability is typically greater than the asset.

the asset and liability are equal.

Explanation:

IFRS 16 lease and IAS 17 deals in important changes where the lease transactions are reported in the lessee financial statement

In this the assets and liabilities that are occured from the lease should be initially determined on the present value basis

Also the assets and liability are equivalent to each other

Therefore the first option is correct

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