According to AASB 1023,how Are Assets Backing General Insurance Liabilities

question 21

Multiple Choice

According to AASB 1023,how are assets backing general insurance liabilities to be measured?

• A) Fair value
• B) Book value of the insurer
• C) Book value of the insured party
• D) Historical cost

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Definitions:

Esophagus

The muscular tube that transports food and liquids from the mouth to the stomach, playing a key role in the digestive system.

ENS

The Enteric Nervous System (ENS) is a network of neurons lining the gastrointestinal tract, controlling digestion and gut function independently of the central nervous system.

Neuron Types

are various kinds of nerve cells classified based on their function, structure, neurotransmitter released, and direction of signal sent; including sensory, motor, and interneurons.