Which of the following are included in AASB 6 as factors indicating the E&E assets may be impaired?
I whether the exploration rights for the specific area have expired or are expected to expire in the near future and there is no expectation of renewal
II where there is no budget or plan for the incurrence of further substantial E&E expenditure in the specific area
III where the entity had decided to discontinue E&E activities in the specific area on the basis that such activities have not led to the discovery of commercially viable quantities of mineral resources
IV where the entity has established that the cost of the E&E asset is unlikely to be recovered in full from the successful development or sale of the specific area
A) I, II and III
B) I, II and IV
C) I, III and IV
D) II, III and IV

Question

Quizplus · Accepted Answer

AASB 6 includes factors such as expired exploration rights, no further budget for E&E expenditure, and discontinuation of E&E activities due to lack of commercially viable discoveries as indicators of potential impairment.

Which of the Following Are Included in AASB 6 as Factors