The Proper Accounting for Borrowing Costs Has Been a Long-Standing

The proper accounting for borrowing costs has been a long-standing controversy. Which of the following is not a generally accepted approach to accounting for borrowing costs?

A) Recognize as expense all borrowing costs.
B) Capitalize all costs of funds employed during development.
C) Capitalize only actual borrowing costs on a qualifying asset under development.
D) Capitalize only borrowing costs that are associated with interest rates above the market interest rate.