When deciding to what extent costs should be written off or carried forward AASB 6 requires that:
A) All activities should be considered to best reflect the position of the firm.
B) Each area of interest as delimited by the firm to be considered separately.
C) Exploration and evaluation costs must be carried forward.
D) Each area of interest as delimited by the firm to be considered separately and exploration and evaluation costs must be carried forward.
E) None of the given answers.

Question

Quizplus · Accepted Answer

AASB 6 requires that each area of interest, as defined by the firm, should be considered separately when deciding on the treatment of exploration and evaluation costs.

When Deciding to What Extent Costs Should Be Written Off