Solution-Find which entity change accounting policies for

Find which entity change accounting policies for exploration

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Reference no: EM132765973

Problem 1: Under PFRS 6, an entity may change its accounting policies for exploration and evaluation expenditures

a) If the change is required or permitted under the standards

b) If the change is required or permitted under the standards and not prohibited by a relevant regulation

c) if the change makes the financial statements more relevant and no less reliable, or more reliable and no less relevant.

d) If the change makes the financial statements more relevant or more reliable

Problem 2: Which of the following statements is correct?

a) According to PAS 28 Investments in Associates, a partnership cannot be an associate.

b) Goodwill included in the carrying amount of an investment in an associate is tested for impairment separately.

c) Only investments in ordinary shares can be classified as Investment in Associate.

d) Only investments which give the investor voting rights can be classified as Investment in Associate.

Reference no: EM132765973

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Find which entity change accounting policies for exploration

Reference no: EM132765973

Reference no: EM132765973

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