The text outlines four steps to determine borrowing costs to be capitalized. Briefly describe those steps and how each step ensures the reliability and faithful representation of financial statements as outlined in the Conceptual Framework.

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The Answer of The text outlines four steps to determine borrowing costs to be capitalized. Briefly describe those steps and how each step ensures the reliability and faithful representation of financial statements as outlined in the Conceptual Framework.

The Text Outlines Four Steps to Determine Borrowing Costs to Be