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.

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Definitions:

Librium

A brand name for chlordiazepoxide, a sedative and hypnotic medication used to treat anxiety and withdrawal symptoms.

Lithium

A chemical element used in various industries and most famously in psychiatric medicine for treating bipolar disorder due to its mood-stabilizing properties.

Classification

The organization of items into categories based on similarities or specific criteria.

Expiration Date

The date after which a product, such as food or medicine, is not recommended to be used because it may not be safe or effective.