The Pattern of Revenue Recognition Required by AASB 1023 Is

question 19

Multiple Choice

The pattern of revenue recognition required by AASB 1023 is:

• A) As premiums become due and payable, the revenue should be recognised according to accrual principles.
• B) In accordance with the pattern of past receipts from policies of a similar type.
• C) Based on the discounted cash flows expected to be associated with the policy, using past experience of policies that are in the same category.
• D) Based on the pattern of risk to which the insurer is exposed.
• E) None of the given answers.

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