Accounting policies for exploration and evaluation costs should be determined:
A) in accordance with AASB 6
B) in accordance with AASB 108
C) in accordance with AASB 106
D) in accordance with AASB 8

Question

Quizplus · Accepted Answer

Accounting policies for exploration and evaluation costs should be determined in accordance with AASB 6, which provides guidance on accounting for exploration and evaluation expenditures incurred in relation to discovering mineral resources.

Accounting Policies for Exploration and Evaluation Costs Should Be Determined