Exchange Differences Recognised as Borrowing Costs and Included in the Cost

question 38

Multiple Choice

Exchange differences recognised as borrowing costs and included in the cost of an asset,are recogniseD.

• A) Until the asset is ready for its intended use or sale, provided the capitalisation of costs does not mean that the cost of the asset exceeds recoverable amount.
• B) Until such time as they are deemed to be income and expenses by a resolution of the Board of Management.
• C) Until such time as income is derived, at which time they are passed directly to profit or loss.
• D) Only after the asset is ready for its intended use or sale, provided the capitalisation of costs does not mean that the cost of the asset exceeds recoverable amount.
• E) At the discretion for the entity's auditors.

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Definitions:

Positive Psychology

A field of psychology focused on the study of positive aspects of human life, such as happiness, well-being, and thriving.

William James

An American philosopher and psychologist, often referred to as the father of American psychology.

Wilhelm Wundt

Often regarded as the father of psychology, he established the first psychology laboratory at the University of Leipzig, Germany.

John B. Watson

An American psychologist who established the psychological school of behaviorism, emphasizing the study of observable behavior.