The Consistency of AASB 1023 with Other Accounting Standards Has

question 48

Multiple Choice

The consistency of AASB 1023 with other accounting standards has been raised as an issue.Which two other 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 Statement of Cash Flows and AASB 132 Financial Instruments: Disclosure and Presentation.
• D) AASB 9 Financial Instruments: Recognition and Measurement and AASB 116 Property, Plant and Equipment.

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Definitions:

Brain Imaging

Techniques used to visualize the structure or function of the brain, such as MRI or fMRI, for research or diagnostic purposes.

Neuroscience Methods

Techniques and tools used in the field of neuroscience to study the structure, function, development, genetics, biochemistry, physiology, and pathology of the nervous system.

Social Cognition

Social cognition is the process by which people process and interpret information about themselves and others in the social world.

Stereotype

A widely held but fixed and oversimplified image or idea of a particular type of person or thing.