[Demo] IAS 20 – Government Grants

Which of the following terms are defined by this statement: “Action by government designed to provide an economic benefit specific to an entity or range of entities qualifying under certain criteria”?

Why can the receipt of government assistance by an entity be significant for the preparation of the financial statements?

Receipt of a grant provides of itself conclusive evidence that the conditions attaching to the grant have been or will be fulfilled.

A forgivable loan from government is treated as a __________ when there is reasonable assurance that the entity will meet the terms for forgiveness of the loan.