Which of the following statements is not in accordance with AASB 6 Exploration for and Evaluation of Mineral Resources?
A) Expenditures incurred in the exploration for and evaluation of mineral resources may be expensed as incurred.
B) Expenditures incurred in the exploration for and evaluation of mineral resources may be partially or fully capitalised and recognised as an exploration and evaluation asset.
C) Expenditures incurred in the exploration for and evaluation of mineral resources may be carried forward (capitalised) , provided that rights of tenure of the area of interest have expired.
D) Expenditures incurred in the exploration for and evaluation of mineral resources may be carried forward (capitalised) , provided that rights of tenure of the area of interest are current.
Correct Answer:
Verified
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