ACCTSol108.pdf - 36 Award 10.00 points Capitalization of...

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36. Award: 10.00 points Capitalization of borrowing costs on qualifying assets is mandatory under both IFRS and ASPE. True False References True / False Learning Objective: 12-06 Explain the impact of discounting liabilities. Difficulty: 1 Easy Learning Objective: 12-08 Compare and contrast the reporting and measurement of liabilities under ASPE and IFRS.
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37. Award: 10.00 points Under IFRS, a loss contingency must be credited to a liability account only if the occurrence of the contingent event is probable and if the amount of loss can be reasonably estimated.
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