We appreciate your visit to Solve these 3 MCQs MCQ 1 IAS 23 refers to borrowing costs A Charged to income statement B Could be charged to an asset C. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
The correct (B) - borrowing costs could be charged to an asset. Under IAS 23, if borrowing costs are directly attributable to the acquisition or production of a qualifying asset, they can be capitalized as part of the cost of that asset. This means that they are added to the value of the asset and depreciated or amortized over its useful life.
(A) Borrowing costs are charged to the income statement.
(B) Borrowing costs could be charged to an asset.
(C) Borrowing costs are considered as interest expense.
(D) None of the above.
MCQ 2: The question seems to be incomplete. It mentions "under IAS 40 investment mad". Could you please provide more information or clarify the question so that I can assist you accurately?
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