Which AS deals with 'Borrowing Costs'?
AAS 16
BAS 13
CAS 12
DAS 19
Answer & Solution
Correct answer: A. AS 16
1. Step 1: AS 16 = Borrowing Costs, applicable 01/04/2000.
2. Step 2: AS 12 deals with Government Grants; AS 13 with Investments; AS 19 with Leases.
3. Step 3: Hence (C) is correct.
_Source: ICAI BoS CA Inter Paper 1, Ch 1 "Introduction to Accounting Standards"_