CERTYNEX IFRS ACADEMY

Which statements about the exclusions from the scope of IFRS 17 are correct? More than one answer is possible.

The issuer of a financial guarantee contract may change every year the standard it applies to it.

A financial guarantee contract is excluded, unless its issuer irrevocably elects to apply IFRS 17.

A retailer that grants a warranty on the sale of its own goods is in the same position as the manufacturer.

A manufacturer's warranty falls within IFRS 17 once its duration exceeds one year.

A warranty granted by a manufacturer on the sale of its goods is excluded from IFRS 17 and falls under other IFRS.