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- IAS 20 – Government Grants 0%
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Question 1 of 10
1. Question
Once a government grant is recognised, any related contingent liability or contingent asset is treated in accordance with __________.
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Question 2 of 10
2. Question
Government grants shall be recognised __________ on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate.
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Question 3 of 10
3. Question
Which of the following approaches can be used to the accounting for government grants?
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Question 4 of 10
4. Question
Which of the following arguments support the capital approach as an approach used to the accounting for government grants?
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Question 5 of 10
5. Question
Which of the following arguments support the income approach as an approach used to the accounting for government grants?
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Question 6 of 10
6. Question
Under which of the following circumstances is recognition of government grants in profit or loss on a receipt basis permissible?
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Question 7 of 10
7. Question
Grants related to depreciable assets are usually recognised in profit or loss over the periods and in the proportions in which depreciation expense on those assets is recognised.
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Question 8 of 10
8. Question
Which of the following is true regarding the grants that are received as part of a package of financial or fiscal aids to which a number of conditions are attached?
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Question 9 of 10
9. Question
A government grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in profit or loss of the period in which it __________.
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Question 10 of 10
10. Question
Which of the following is a common way to account for a government grant that takes the form of a transfer of a non-monetary asset, such as land or other resources, for the use of the entity?
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