Which of the following statements regarding borrowing costs is correct?
A)Neither ASPE nor IFRS usually require disclosure of these items.
B)They are usually amortized until the majority of the underlying products have been sold.
C)They are usually treated as period costs if they are incurred to bring inventories to a
Condition ready for sale.
D)If interest is capitalized, ASPE requires this policy and the amount capitalized to be
Disclosed.

Question

Quizplus · Accepted Answer

Under ASPE, if interest is capitalized, the policy and the amount capitalized must be disclosed.

Which of the Following Statements Regarding Borrowing Costs Is Correct