S1: Insurance service result is recognized in other comprehensive income. S2: Principle of Subrogation is the legal principle that precludes you from obtaining fire insurance on your neighbor’s house with you as the beneficiary. A.Both statements are correct B. Both statements are incorrect C. Only S1 is incorrect D. Only S1 is correct 2. which of the following is not one of the groupings of insurance contracts under pfrs 17? A. those that are onerous at initial recognition B. those that pay premiums at initial recognition which are to be measured using the simplified approach C. those that, at initial recognition, have no significant possibility of becoming onerous in subsequent periods D. those that are not onerous at initial recognition but can become onerous in subsequent periods
1. S1: Insurance service result is recognized in other comprehensive income. S2: Principle of Subrogation is the legal principle that precludes you from obtaining fire insurance on your neighbor’s house with you as the beneficiary.
A.Both statements are correct
B. Both statements are incorrect
C. Only S1 is incorrect
D. Only S1 is correct
2. which of the following is not one of the groupings of insurance contracts under pfrs 17?
A. those that are onerous at initial recognition
B. those that pay premiums at initial recognition which are to be measured using the simplified approach
C. those that, at initial recognition, have no significant possibility of becoming onerous in subsequent periods
D. those that are not onerous at initial recognition but can become onerous in subsequent periods
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