Which Statement Is Not Correct

question 34

Multiple Choice

Which statement is not correct?

• A)Under the successful efforts method, costs of all projects remain capitalized.
• B)ASPE allows either the full cost or successful efforts method to be used.
• C)Under the successful efforts method, only costs of successful projects remain capitalized.
• D)Under IFRS, all costs must be expensed if a mineral site is not worthy of further exploration.

---

Definitions:

1960s

A decade marked by significant cultural, political, and social changes worldwide, often associated with civil rights movements and counterculture.

1950s

A decade spanning from January 1, 1950, to December 31, 1959, often characterized by post-war economic growth, technological innovation, and distinctive social norms.

Nursing Home

A residential facility for individuals who require constant nursing care and have significant deficiencies with activities of daily living.

City Streets

Public thoroughfares in urban areas, often paved and lined with buildings, facilitating vehicular and pedestrian traffic.