2039 others answered this question
MC Question 15
Which of the following statements about IAS 20 Accounting for Government Grants and Disclosure of Government
Assistance are true?
| (i) | A government grant related to the purchase of an asset must be deducted from the carrying amount of the asset in the statement of financial position |
|---|---|
| (ii) | A government grant related to the purchase of an asset should be recognised in profit or loss over the life of the asset |
| (iii) | Free marketing advice provided by a government department is excluded from the definition of government grants |
| (iv) | Any required repayment of a government grant received in an earlier reporting period is treated as prior period |
A (i) and (ii)
B (ii) and (iii)
C (ii) and (iv)
D (iii) and (iv)