๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      Which accounting method is used for long-duration

      insurance contracts under IND AS 104?
      A Historical cost method Correct Answer Incorrect Answer
      B Fair value method Correct Answer Incorrect Answer
      C Amortized cost method Correct Answer Incorrect Answer
      D Expected cash flow method Correct Answer Incorrect Answer
      E Discounted cash flow method Correct Answer Incorrect Answer

      Solution

      Explanation: IND AS 104 requires the use of the Expected Cash Flow method for measuring and recognizing the insurance contract liabilities.

      Practice Next
      ask-question