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1.Australian companies who voluntarily adopt the Australian Minerals Code for Environmental Management are required to report their performance against specifically nominated environmental performance indicators, such as greenhouse gas emissions.  2.Positive accounting theory predicts that large sized entities will choose not to capitalise their exploration and evaluation expenditures to reduce likelihood.

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  • 1.Australian companies who voluntarily adopt the Australian Minerals Code for
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51.Which of the following statements is correct?   A. AASB 6 requires disclosure of accounting policies for exploration and evaluation expenditures. B. AASB 137 Provisions, Contingent Liabilities and Contingent Assets provides guidance on obligations of an entity for restoration costs. C. Exploration and evaluation assets are required in AASB 6 to be classified as intangible assets. D. AASB 6.

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  • 51.Which of the following statements correct?   A. AASB 6 requires disclosure of
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11.There are potentially five alternative methods to account for pre-production costs for extractive industries.  12.The costs-written-off-and-reinstated method permits the reversal of exploration and evaluation expenses recorded in an earlier period in order to record an asset, and it is consistent with the AASB Framework.  13.The full-cost method is permitted in.

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  • 11.There potentially five alternative methods to account for pre-production costs
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40.Property, plant and equipment that is within the scope of AASB 116 and backs general insurance liabilities, should be measured at:    A. depreciated historical cost. B. net replacement cost. C. recoverable amount. D. None of the given answers are correct. 41.AASB 1023's disclosure requirements relating to the statement of comprehensive income include:    A. deferred acquisition.

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  • 40.Property, plant and equipment that within the scope of AASB
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41.The discount rate that AAS 25 recommends for use is:   A. a current, market-determined, risk-adjusted discount rate appropriate to the plan. B. the inflation-adjusted, current, risk-free government bond rate. C. the rate of return earned by high quality corporate bonds. D. the rate of interest charged by banks on loans with matching maturities to the accrued benefits. 42.What is.

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  • 41.The discount rate that AAS 25 recommends for use is:   A. a
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70.Discuss the rationale for providing two presentation formats in preparing a financial report for defined benefit plans. 71.              What is the accounting treatment for sale of non-current assets in a superannuation plan?  72.What are the implications of not having the force of law in adopting the requirements of AAS 25 on financial.

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  • 70.Discuss the rationale for providing two presentation formats in preparing
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21.A contributory superannuation plan is one in which:    A. the employer contributes periodic payments to the trust fund. B. the employees contribute periodic payments to the trust fund. C. the government contributes a percentage of the employees' contribution. D. the benefits accumulate at a compound rate. 22.The types of reports that a superannuation plan.

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  • 21.A contributory superannuation plan one in which:    A. the employer contributes
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