The costs-written-off-and-reinstated method permits the reversal of exploration and evaluation expenses recorded in an earlier period in order to record an asset,and it is consistent with the AASB Framework.

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The statement is true. The costs-written-off-and-reinstated method is an acceptable accounting policy under the AASB Framework, which allows the reversal of exploration and evaluation expenses to recognize an asset. This method is used when exploration activities lead to the discovery of an economically viable mineral resource, and it aligns with the principle of asset recognition where an asset should be recognized when it is probable that future economic benefits associated with the asset will flow to the entity, and the asset has a cost or value that can be reliably measured.

The Costs-Written-Off-And-Reinstated Method Permits the Reversal of Exploration and Evaluation