Question

With respect to AS 4 (relating to Contingencies and Events), which of the following statement is incorrect?

A Contingencies in relation to obligations under the retirement benefits plans is excluded from the scope of this standard

B Contingencies in relation to liabilities of life assurance and general insurance enterprises arising from policies issued is excluded from the scope of this standard

C This standard deals with contingencies and events occurring before the balance sheet date

D Contingencies in relation to commitments arising from long-term lease contracts is excluded from the scope of this standard

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With respect to AS 4 (relating to Contingencies and Events), which of the following statement is incorrect?

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