Table of Contents Click here to exit full screen mode. Part 20 of 22 - Question 20 Question Progress Question 20 of 22 3 Points Platinum Mining (PM) bought mining rights to mine platinum on a property owned by the government, for R450 000. Land experts have met with PM and have stated that there is a 12% chance of PM finding platinum in the land for which the mining rights have been purchased. The mining rights meet the asset definition. Which of the following statements are incorrect with respect to the mining rights in terms of the recognition criteria as per the conceptual framework? i. There is existence uncertainty with regards to the mining rights. ii. The mining rights do not meet the recognition criteria. iii. The probability of the flow of economic benefits from the mining rights is not low. iv. The recognition of the mining rights will provide relevant information, v. The level of measurement uncertainty for the mining rights is not high. O A. Only i, iii, iv and v OB. Only i, ii, and iii O C. Only iii, iv and v OD. Only ii, iii and v O E. Only i, iii, and iv Reset Selection Previous NEXT Save Exit Click here to exit full screen mode. TESTS & QUIZZES ? FINAL ASSESSMENT: SECTION B Table of Contents Part 20 of 22 - Question 20 Question Progress Question 20 of 22 3 Points Platinum Mining (PM) bought mining rights to mine platinum on a property owned by the government, for R450 000. Land experts have met with PM and have stated that there is a 12% chance of PM finding platinum in the land for which the mining rights have been purchased. The mining rights meet the asset definition. Which of the following statements are incorrect with respect to the mining rights in terms of the recognition criteria as per the conceptual framework? i. There is existence uncertainty with regards to the mining rights. ii. The mining rights do not meet the recognition criteria. iii. The probability of the flow of economic benefits from the mining rights is not low. iv. The recognition of the mining rights will provide relevant information. v. The level of measurement uncertainty for the mining rights is not high. O A. Only i, iii, iv and v OB. Only i, ii, and iii O C. Only iii, iv and v OD. Only ii, iii and v O E. Only i, iii, and iv Reset Selection