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.
Correct Answer:
Verified
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