Which of the Following Are Excluded from the Scope of AASB

question 18

Multiple Choice

Which of the following are excluded from the scope of AASB 15/IFRS 15?
I. Financial instruments within the scope of AASB 9/IFRS 9.
II. Insurance contracts within the scope of AASB 4/IFRS 4.
III. Arrangements between oil companies that agree to exchange oil to meet demands of customers in different locations.
IV. Lease agreements within the scope of AASB 16/IFRS 16.

• A) I, II only.
• B) II, III and IV only.
• C) I, III and IV only.
• D) I, II, III and IV.

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Definitions:

Dutch Middle-Class

A social class in the Netherlands that emerged in the 17th century, characterized by their significant role in commerce and urban life.

17th Century

The time period from 1601 to 1700 in the Gregorian calendar, notable for significant cultural, scientific, and political developments.

Trade

The exchange of goods and services between people or entities, often across geographical areas.

Dutch Middle Class

The social class in the Netherlands, historically significant during the Golden Age, known for its wealth, culture, and influence.