Suppose You Have an Hour Before Your Next Class Starts

question 62

Multiple Choice

Suppose you have an hour before your next class starts.You can either read a book, get something to eat, or take a nap.The opportunity cost of getting something to eat is

• A)the cost of what you eat
• B)the value of reading and sleeping
• C)the loss of value from not reading or sleeping
• D)the net benefit of sleeping for another hour
• E)impossible to determine because the most preferred alternative is not known

Identify factors indicating E&E assets impairment according to AASB 6/IFRS 6.

Understand subsequent measurement options for E&E assets.

Understand the scope and limitations of AASB 6.

Learn the disclosure requirements for E&E activities and assets.