Accounting · IFRS 16 Leases - Identification of a Lease

Which TWO of the following statements correctly reflect the requirements of IFRS 16 when assessing whether a contract contains a lease? 1. A contract contains a lease only if the asset is explicitly named in the contract. 2. A contract does not contain a lease if the supplier has a substantive right to substitute the asset throughout the period of use. 3. A contract contains a lease only if the customer obtains substantially all the economic benefits from use of the identified asset and has the right to direct its use. 4. A contract contains a lease only if legal ownership of the underlying asset transfers to the customer by the end of the term.