When Deciding to What Extent Costs Should Be Written Off

question 28

Multiple Choice

When deciding to what extent costs should be written off or carried forward AASB 6 requires that:

• A) All activities should be considered to best reflect the position of the firm.
• B) Each area of interest as delimited by the firm to be considered separately.
• C) Exploration and evaluation costs must be carried forward.
• D) Each area of interest as delimited by the firm to be considered separately and exploration and evaluation costs must be carried forward.
• E) None of the given answers.

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Definitions:

Human Resource

Human resource refers to the department within an organization that deals with hiring, training, managing, and retaining staff.

Canadian Human Rights Act

A statute in Canada that prohibits discrimination on the grounds of race, national or ethnic origin, color, religion, age, sex, sexual orientation, marital status, family status, disability, or a conviction for which a pardon has been granted.

Equality Before the Law

A principle under which all people are subject to the same laws of justice and are entitled to equal protection and benefit of the laws.

Bona Fide Occupational Requirement

A justified business necessity that allows discrimination in hiring if certain attributes are essential for performing a job.