Question: Question 4 (11 marks) Discuss (Using Australian accounting standard)If a decision is made to abandon an area of interest, how should any pre-production costs in

Question 4 (11 marks)

Discuss (Using Australian accounting standard)If a decision is made to abandon an area of interest, how should any pre-production costs in respect of that area be treated? Explain, what costs should be included in the cost of inventory of an entity involved in the extractive industries.

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