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Which measurement model applies to exploration assets

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Reference no: EM132992482

Problem 1: Which measurement model applies to exploration and evaluation assets subsequent to initial recognition?

a) The cost model only.

b) The revaluation model only.

c) The recoverable amount model only.

d) Either the cost model or the revaluation model.

Problem 2: A change in estimate should

a) Result in restatement of prior period statements.

b) Be handled in current and future periods.

c) Be handled in future periods only.

d) Be handled retroactively.

Problem 3: For the composite method, the composite

a) Rate is the total cost divided by the total annual depreciation.

b) Rate is the total annual depreciation divided by the total depreciable cost.

c) Life is the total cost divided by the total annual depreciation.

d) Life is the total depreciable cost divided by the total annual depreciation.

Reference no: EM132992482

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