CERTYNEX IFRS ACADEMY

Which statements about the role of the terms of the contractual arrangement in classification are correct? More than one answer is possible.

The analysis concerns the content of the arrangement's clauses, not its title or presentation.

The clauses that allocate the assets, liabilities, revenues and expenses of the arrangement to the parties must be read.

Contractual terms count if all the parties signed them on the date the vehicle was created, and are disregarded otherwise.

Contractual terms have no effect on classification where the vehicle has its own legal personality.

The terms of the contractual arrangement can modify or confirm the rights and obligations that the legal form would suggest.