Which statement is not correct?
A)The three phases in mining activities are: mineral exploration, development and extraction.
B)The accounting for mineral exploration is conceptually similar to that for research activities.
C)Mineral exploration costs can be capitalized because markets for mineral resources are well established.
D)A mineral site entering the development phase would normally satisfy the six criteria required for capitalization.

Question

Quizplus · Accepted Answer

The Answer of Which statement is not correct?
A)The three phases in mining activities are: mineral exploration, development and extraction.
B)The accounting for mineral exploration is conceptually similar to that for research activities.
C)Mineral exploration costs can be capitalized because markets for mineral resources are well established.
D)A mineral site entering the development phase would normally satisfy the six criteria required for capitalization.

Which Statement Is Not Correct