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please answer all the questions immediately thankyou 6. All of the following except one would be qualified as an exploration and evaluation asset. * (1
please answer all the questions immediately thankyou
6. All of the following except one would be qualified as an exploration and evaluation asset. * (1 Point) Expenditure on procedures that is necessary in determining the commercial viability of a mineral resource Expenses incurred for marketing the development mineral resource O Administrative cost incurred before the determination of technical feasibility Exploratory drilling expenses 7. When an inventory is transferred to investment property that is to be measured at fair value the difference of the carrying amount and fair value should be included in the statement of comprehensive income other comprehensive income section in LR (1 Point) TRUE w FALSE 8. The Mirror Company classified a non-current asset accounted for under the cost model as held for sale on 31 December 20X6. Because no offers were received at an acceptable price, Mirror decided on 1 July 20X7 not to sell the asset, but to continue to use it. In accordance with IFRS 5, the asset should be measured on 1 July 20X7 at (1 Point) the lower of its carrying amount and its recoverable amount the higher of its carrying amount on the basis that it had never been classified as held for sale and its recoverable amount hing the higher of its carrying amount and its recoverable amount the lower of its carrying amount on the basis that it had never been classified as held for sale and its recoverable amount 9. Noncurrent asset held for sale is measured at the higher of value in use and fair value less cost of disposal. (1 Point) TRUE FALSE 10. Under PFRS 6, mineral, oils, and regenerative resources are under the definition of Mineral Resource (1 Point) O TRUE FALSEStep by Step Solution
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