Which Statement Is Not Correct

question 70

Multiple Choice

Which statement is not correct?

• A)In accounting for mineral resources, IFRS 6 applies for the exploration and evaluation phase.
• B)In accounting for mineral resources, IAS 38 applies for the development phase.
• C)A mineral site entering the development phase would normally satisfy the six criteria required for capitalization.
• D)In accounting for mineral resources, IAS 38 is not applicable for any phase.

Compute total amounts across various practical contexts (e.g., agricultural plots, travel distances, jewelry making).

Change fractions to higher terms respecting given denominators.

Apply knowledge of fractions to solve real-world problems (e.g., cooking, crafts, construction).

Understand relationships between addition and subtraction operations in different contexts.

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Definitions:

Financing Activities

Transactions related to raising and repaying capital, such as issuing stocks or bonds and paying dividends.

Net Cash

The amount of cash that is available after all debts and expenses have been paid.

Investing Activities

Transactions involving the acquisition or sale of long-term assets and other investments not included in cash equivalents.

Statement Of Cash Flows

A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents.