On 1 March 20X1, Light Limited began the construction of a new factory plant, a ...
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On 1 March 20X1, Light Limited began the construction of a new factory plant, a qualifying asset. On the same day, a specific loan was raised. Capitalisation of the borrowing costs on this specific loan began immediately since all criteria for capitalisation were met. However, construction activities were halted for the entire month of June 20X1 due to the entity experiencing cash flow problems. The borrowing costs during June 20X1 should be capitalized.(Indicate whether the above statement is true or false)
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