Match the List-I with List-II:

Match the column

List-I: Ind AS	List-II: Related
(A) Ind AS-12	I. Leases
(B) Ind AS-17	II. Borrowing Costs
(C) Ind AS-19	III. Employee Benefits
(D) Ind AS-23	IV. Income Taxes

Choose the correct answer from the options given below:

Correct option is A

· Ind AS-12 (Income Taxes): Covers accounting for current and deferred tax. It ensures proper matching of tax expenses with the associated income in the financial statements.
· Ind AS-17 (Leases): Deals with lease accounting, including the recognition of finance leases and operating leases by both lessors and lessees.
· Ind AS-19 (Employee Benefits): Addresses accounting for employee benefits, including short-term benefits, post-employment benefits like pensions, and termination benefits.
· Ind AS-23 (Borrowing Costs): Covers the capitalization of borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset.
Information Booster
· Ind AS-12: Helps entities calculate and disclose tax effects on income. It covers temporary differences between the tax base and carrying amounts, ensuring correct reporting of deferred taxes.
· Ind AS-17: Primarily replaced by Ind AS-116 (Leases) but historically important. It guided classification and recognition of leases, ensuring transparency in lease-related liabilities.
· Ind AS-19: Ensures companies account for obligations like gratuity, pension, and other retirement benefits, providing a fair view of liabilities toward employees.
· Ind AS-23: Ensures that borrowing costs are not immediately expensed but capitalized when linked to specific qualifying assets, improving accuracy in asset valuation.