Which of the Following Statements Is Not in Accordance with AASB

question 33

Multiple Choice

Which of the following statements is not in accordance with AASB 6 Exploration for and Evaluation of Mineral Resources?

• A) The carried-forward expenditure is required to be subject to regular impairment testing.
• B) Exploration and evaluation assets shall be assessed for impairment when facts and circumstances suggest that the carrying amount of an exploration and evaluation asset may exceed its recoverable amount.
• C) When the carrying amount exceeds the recoverable amount, an entity shall measure, present and disclose any resulting impairment loss.
• D) An entity is not permitted to change its accounting policies for exploration and evaluation expenditures even if the change makes the financial report more relevant to the economic decision making needs of users.

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Definitions:

Hyperactive

Excessive physical activity or movements, inability to stay still, often associated with attention deficit hyperactivity disorder (ADHD).

Secluded

Being isolated or removed from social contact; placed in a situation of privacy or solitude.

Hyperactivity

An abnormal or excessive level of activity, often seen in disorders such as ADHD, characterized by restlessness and difficulty sitting still.

Obscene Gestures

Offensive or indecent physical movements, often used to insult or express disdain towards others.