Which of the following is NOT true about capitalizing interest under U.S. GAAP? (A 24) Group of answer choices U.S. GAAP requires companies have a construction loan in order to capitalize interest. U.S. GAAP requires capitalization stop when the asset is substantially ready to use. U.S. GAAP requires construction to begin before interest can be capitalized. U.S. GAAP requires payments on construction to be made before interest can be capitalized.
Which of the following is NOT true about capitalizing interest under U.S. GAAP? (A 24) Group of answer choices U.S. GAAP requires companies have a construction loan in order to capitalize interest. U.S. GAAP requires capitalization stop when the asset is substantially ready to use. U.S. GAAP requires construction to begin before interest can be capitalized. U.S. GAAP requires payments on construction to be made before interest can be capitalized.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 14GI
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Which of the following is NOT true about capitalizing interest under U.S. GAAP? (A 24)
Group of answer choices
U.S. GAAP requires companies have a construction loan in order to capitalize interest.
U.S. GAAP requires capitalization stop when the asset is substantially ready to use.
U.S. GAAP requires construction to begin before interest can be capitalized.
U.S. GAAP requires payments on construction to be made before interest can be capitalized.
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