Login / Signup

Question

What is the accounting treatment for government grants related to assets under Ind AS?

A Recognise grant as income immediately in equity

B Deduct grant from carrying amount of asset or recognise as deferred income and allocate to P&L over useful life

C Treat grant as contingent asset only

D Recognise grant as revenue only when received in cash

E Grants are treated as investment

Practice Next

More Accounts Questions

For the financial year ended 31st March 2023, the figures extracted from the balance sheet of ABC Ltd. are as under: Opening stock 29,000 Closing stock 31,...
The Coir Board is primarily responsible for the development of which sector?
A company is offered a trade credit term of "2/10 net 30" by its supplier. If it doesn't take the discount, what is the annualized cost of forgoing the dis...
Accounting Standard AS 9 (Revenue Recognition) deals with the bases for recognition of revenue in the statement of profit and loss of an enterprise. The St...
Calculate the value of work certified, if cash received is Rs. 480,000, being 80% of work certified.
Which of the following best describes “Drawing Power (DP)” in the context of a Cash Credit facility given by a bank?
Purchase of a laptop for office use wrongly debited to Purchase Account. It is an error of
How do Priority Sector Lending Certificates (PSLCs) help banks comply with RBI’s priority sector norms while balancing credit risk?
Which of the following statements is INCORRECT?
According to Companies Act 2013, what does OPC stand for?

Hey! Ask a query

ask-question