Disclosures related to restoration costs:
A) Are not covered by AASB 6 and are therefore not required.
B) Should only be reported in the notes to the accounts once they have been completed.
C) Are required by AASB 137.
D) Must include the reason why restoration is being undertaken - legal, voluntary etc.
E) Should only be reported in the notes to the accounts once they have been completed and are required by AASB 137.

Question

Quizplus · Accepted Answer

AASB 137 requires disclosures related to provisions, contingent liabilities, and contingent assets, which include restoration costs.

Disclosures Related to Restoration Costs