alleryStart learning →Which item must be disclosed about government grants?
ASalaries of grant staff
BDate of each sanction
CNames of all officials
DAccounting policy adopted
Answer & Solution
Correct answer: D. Accounting policy adopted
The enterprise must disclose its accounting policy for grants including the methods of presentation.
Keep practising AS 12 Accounting for Government Grants
Browse all AS 12 Accounting for Government Grants questions for CA Inter, or explore more Accounting topics.
Related questions
Rs 8 lakh grant on land, no obligations, deferred income method. Capital reserve credit?Rs 2 lakh asset grant, deferred income, 8-year life. Yearly P and L income?Capital reserve of Rs 25 lakh from a promoters grant; Rs 5 lakh refunded. Reserve left?Asset book value Rs 6.4 lakh rises by a Rs 2 lakh grant refund; 8 years remain, SLM. YearlRevenue grant refund Rs 2 lakh; unamortised deferred credit Rs 1.5 lakh. P and L charge?Rs 4 lakh revenue grant offsets training cost incurred evenly over 4 years. Yearly income?Rs 6 lakh land grant carries obligation costs charged evenly over 5 years. Yearly credit?Rs 3 lakh grant, 5-year asset, SLM. Deferred income balance after 2 years?