If an Area-Of Interest Is Abandoned,which of the Following Actions

question 53

Multiple Choice

If an area-of interest is abandoned,which of the following actions is consistent with AASB 6 "Exploration for and Evaluation of Mineral Resources"?

• A) Write-off carrying amount of exploration and evaluation assets and recognize an impairment loss;
• B) Reclassify carrying amount of exploration and evaluation assets to another other area-of-interest;
• C) Re-instatement of previously written off exploration and evaluation assets is not permitted.
• D) Machinery that can be dismantled and used on another area of interest should not be expensed.
• E) None of the given answers.

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