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      Question

      Which Ind AS/AS prescribes principles for borrowing

      costs (capitalisation)?
      A Ind AS 23 Correct Answer Incorrect Answer
      B Ind AS 16 Correct Answer Incorrect Answer
      C Ind AS 12 Correct Answer Incorrect Answer
      D Ind AS 2 Correct Answer Incorrect Answer

      Solution

      Ind AS 23, "Borrowing Costs," deals with the accounting for borrowing costs, including the criteria for their capitalisation as part of the cost of a qualifying asset.

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