Under U$.$S$.$ GAAP, interest on loans secured to acquire fixed assets must be:

Question $41$ options:

a$)$

expensed in the period they are incurred.

b$)$

capitalized as part of the fixed asset cost.

c$)$

either expensed currently or capitalized as part of the fixed asset cost.

d$)$

paid in full before recognizing the asset.