Which of the Following Statements Is Not in Accordance with AASB

question 6

Multiple Choice

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

• A) Expenditures incurred in the exploration for and evaluation of mineral resources may be expensed as incurred.
• B) Expenditures incurred in the exploration for and evaluation of mineral resources may be partially or fully capitalised and recognised as an exploration and evaluation asset.
• C) Expenditures incurred in the exploration for and evaluation of mineral resources may be carried forward (capitalised), provided that rights of tenure of the area of interest have expired.
• D) Expenditures incurred in the exploration for and evaluation of mineral resources may be carried forward (capitalised), provided that rights of tenure of the area of interest are current.

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