Vivek,
As you correctly pointed out, the PMBOK® Guide states that the cost of training could be included in the project budget or paid for by the organization. If the skills to be acquired will only be used for the project, then it would most likely need to be included in the project budget. If the skills to be acquired will benefit future projects or the organization going forward, then the cost would most likely be paid by the organization. As far as the real exam, I would think the question would have to provide some information on how the acquired skills will be applied in order to answer the question.