Which of the following is not within the scope of the IASB extractive activities project?
A) The definition of reserves and resources.
B) Disclosure requirements for reserves and resources.
C) Measurement of reserves and resources on initial recognition as an asset.
D) Whether to expense or capitalise costs recognised after recognition of reserves and resources as assets.

Question

Quizplus · Accepted Answer

The IASB extractive activities project is focused on accounting for exploration, evaluation, development and production of minerals, oil, natural gas, and similar non-regenerative resources. Therefore, the question of whether to expense or capitalise costs recognised after recognition of reserves and resources as assets is outside the scope of this project.

Which of the Following Is Not Within the Scope of the IASB