The Consistency of AASB 1023 with Other Accounting Standards Has

question 46

Multiple Choice

The consistency of AASB 1023 with other Accounting Standards has been raised as an issue.Which two other Accounting Standards specifically do not apply to the general insurance part of a business but may apply to the remaining elements of the business?

• A) AASB 132 'Financial Instruments: Disclosure and Presentation' and AASB 102 'Inventories'.
• B) AASB 112 'Income Taxes' and AASB 124 'Related Party Transactions'.
• C) AASB 107 'Cash-flow Statements' and AASB 132 'Financial Instruments: Disclosure and Presentation'.
• D) AASB 139 'Financial Instruments: Recognition and Measurement' and AASB 116 'Property, Plant and Equipment'.
• E) None of the given answers.

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