Aurora Ltd recently started the construction of a new gold mine. The company expects construction to...
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Aurora Ltd recently started the construction of a new gold mine. The company expects construction to take at least two years before the mine is ready for operation, it is also in the process of upgrading facilities at one of its existing mines, which is expected to take two months. Can the upgrade and the new mine be classified as qualifying assets under IAS 237 Select the one correct option and then click Submit. Only the upgrade can be classified as a qualifying asset. Only the new mine can be classified as a qualifying asset. It depends on the entity's accounting policy for borrow costs. The new mine, as well as the upgrade, can be classified as qualifying assets. Aurora Ltd recently started the construction of a new gold mine. The company expects construction to take at least two years before the mine is ready for operation, it is also in the process of upgrading facilities at one of its existing mines, which is expected to take two months. Can the upgrade and the new mine be classified as qualifying assets under IAS 237 Select the one correct option and then click Submit. Only the upgrade can be classified as a qualifying asset. Only the new mine can be classified as a qualifying asset. It depends on the entity's accounting policy for borrow costs. The new mine, as well as the upgrade, can be classified as qualifying assets.
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