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- IAS 20 – Government Grants 0%
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Question 1 of 10
1. Question
Which of the following does IAS 20 deal with?
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Question 2 of 10
2. Question
Government grants are assistance by government in the form of transfers of resources to an entity in return for __________ compliance with certain conditions relating to the operating activities of the entity.
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Question 3 of 10
3. Question
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”?
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Question 4 of 10
4. Question
Why can the receipt of government assistance by an entity be significant for the preparation of the financial statements?
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Question 5 of 10
5. Question
Government grants may be also called…
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Question 6 of 10
6. Question
Government grants, including non-monetary grants at fair value, shall not be recognised until there is reasonable assurance that:
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Question 7 of 10
7. Question
Receipt of a grant provides of itself conclusive evidence that the conditions attaching to the grant have been or will be fulfilled.
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Question 8 of 10
8. Question
The manner in which a grant is received does not affect the accounting method to be adopted in regard to the grant.
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Question 9 of 10
9. Question
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.
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Question 10 of 10
10. Question
The benefit of a __________ at a below-market rate of interest is treated as a __________.
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