The correct statement is: "Promises may be implied by an entity’s customary business practices, published policies or specific statements. These promises are identifiable at contract inception if a valid expectation is created that a good or service will be transferred."

In the context of the given statements: - The statement about Autos Ltd. offering two years of free servicing in an advertising campaign is correct. Even though the free servicing is not specified in the contract, it creates a contractual obligation because the advertising campaign constitutes a promise that is implied in the contract, as per IFRS 15.

The statement about Telecommunications Inc. completing administrative tasks to set up a contract is not entirely accurate. Administrative tasks to establish a contract are typically not considered promises in the contract but are rather fulfillment costs that enable the contract to take effect.

The statement about Stand Up Inc. providing a free paddle and coiled ankle leash as a marketing incentive is also not entirely correct. Although these items are promotional incentives, they do represent a promise in the contract if they create a valid expectation for customers at the time the contract is entered into.

Therefore, the correct interpretation is that promises in a contract can be explicit or implicit, and they are identifiable at the start of the contract if they result in a good or service being promised to the customer, regardless of whether they are explicitly stated or implied through customary business practices, policies, or specific statements.