
Borrowing Costs
Authored by CA Saturday
Computers
Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to Ind AS 23, borrowing costs expenses that are directly attributable to the acquisition, construction, or production of a qualifying asset should be:
Ignored
Recognized as Revenue
Expensed as incurred
Capitalized
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How should borrowing costs be treated when they do not qualify for capitalization?
Amortized over a longer period
Recognized as an expense in the period incurred
Capitalized in the subsequent period
Recorded as a liability
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the benchmark for determining the capitalization rate for borrowing costs?
Prime lending rate
Company's actual borrowing rate
Industry average borrowing rate
Government bond rate
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When does the capitalization of borrowing costs cease under Ind AS 23?
When the asset is sold
When the loan is fully repaid
When the construction is complete
When substantially all the activities necessary to prepare the asset for its intended use or sale are complete
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are borrowing costs for inventories treated under Ind AS 23?
Always capitalized
Never capitalized
Capitalized if they meet specific criteria
Treated as a separate category in financial statements
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the disclosure requirement for borrowing costs under Ind AS 23?
No disclosure required
General information only
Specific disclosures, including the amount of borrowing costs capitalized
Disclosure only if there is a significant impact on financial statements
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a qualifying asset under Ind AS 23?
Any asset
Land
Inventory
An asset that necessarily takes a substantial period of time to get ready for its intended use or sale
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