Economics · Accounting Standards

Arrange the following chronological stages of accounting for borrowing costs related to a Qualifying Asset, as per the established accounting rules: I. Capitalization of borrowing costs ceases when all activities for the asset's intended use are complete. II. An asset is identified as a 'Qualifying Asset' because it takes a substantial period, typically 12 months or more, to get ready for its intended use or sale. III. Capitalization of borrowing costs is suspended if there are extended interruptions in the asset's development. IV. Capitalization of borrowing costs begins when acquisition expenses and borrowing costs incur simultaneously. Choose the correct answer from the options given below: