Which Statement Is Not Correct

question 45

Multiple Choice

Which statement is not correct?

• A)Significant uncertainties exist during mineral exploration.
• B)Entities can choose to either capitalize or expense mineral exploration costs.
• C)IFRS 6 applies when the mineral resources enter the development phase.
• D)Under IFRS, all costs must be expensed if a mineral site is not worthy of further exploration.

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Definitions:

Global Stratification

The differences in wealth, power, and prestige of different societies relative to their position in the international economy.

Economic Dependency

A situation where an individual, group, or nation relies on another for financial support or resources.

Demographic Statistics

Quantitative data relating to the structure of populations, including information on age, gender, income, and education levels.

GNI

Gross National Income, which is the total domestic and foreign output claimed by residents of a country, including salaries of residents working abroad but excluding income of foreign residents.