1. PAS 23 does not require which of the following disclosures? * A. The capitalization rate used to determine the capitalizable borrowing costs. B. PAS 23 requires the disclosure of all these information. C. The amount of borrowing costs capitalized during the period. D. Separate presentation of qualifying assets from other assets either on the face of the statement of financial position or in the notes.
1. PAS 23 does not require which of the following disclosures? * A. The capitalization rate used to determine the capitalizable borrowing costs. B. PAS 23 requires the disclosure of all these information. C. The amount of borrowing costs capitalized during the period. D. Separate presentation of qualifying assets from other assets either on the face of the statement of financial position or in the notes.
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 11Q
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1. PAS 23 does not require which of the following disclosures? *
A. The capitalization rate used to determine the capitalizable borrowing costs.
B. PAS 23 requires the disclosure of all these information.
C. The amount of borrowing costs capitalized during the period.
D. Separate presentation of qualifying assets from other assets either on the face of the statement of financial position or in the notes.
2. How much is the cost of the qualifying asset on initial recognition? *
A. 15,045,000
B. 13,010,000
C. 14,970,900
D. 14,920,000
3. According to PAS 23, borrowing costs are capitalized when *
A. They relate directly to the acquisition, construction, or production of a qualifying asset.
B. The entity chooses to capitalize them
C. They are material and are expected to be incurred over more than one reporting period.
D. All of the options
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