A: The Public Account of India includes funds like the Provident Fund. R: The government can withdraw money from the Public Account without parliamentary approval. Choose the correct option.
A.A is false but R is true
B.A is true but R is false
C.Both A and R are true and R is the correct explanation of A
D.Both A and R are true but R is NOT the correct explanation of A
Explanation:
The Public Account of India holds money like Provident Funds, where the government acts as a banker. Since these funds belong to others, the government can make payments from this account without parliamentary approval. Both are true and R explains A.
Assertion (A): Under Ind AS 23, borrowing costs directly attributable to the acquisition of a qualifying asset must be capitalized. Reason (R): A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use or sale. Choose the correct option.
A.A is false but R is true
B.Both A and R are true but R is NOT the correct explanation of A
C.A is true but R is false
D.Both A and R are true and R is the correct explanation of A
Explanation:
Ind AS 23 requires capitalization of borrowing costs for qualifying assets. A qualifying asset is defined precisely as one that takes a substantial period to be ready for use or sale. R correctly defines the term and explains the basis for capitalization.
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