Page 105 - IC46 addendum

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c. Contractual rights or contractual obligations
that are contingent on the future use of, or
right to use, a non-financial item.

d. Financial guarantee contracts unless the
issuer has previously asserted explicitly that
it regards such contracts as insurance
contracts.

e. All above

6. An entity shall not apply Ind AS 104 to -
a. Contingent consideration payable or

receivable in a business combination.
b. Direct insurance contracts that the entity

holds.
c. A cedant shall apply this Standard to

reinsurance contracts that it holds.
d. All are correct.
e. None are incorrect.

7. Find the incorrect statement ?
a. Ind AS 39 requires an entity to separate some

embedded derivatives from their host
contract.
b. Measure them at fair value.
c. Include changes in their fair value in profit or
loss.

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