alleryStart learning →Which is excluded from government assistance in Ind AS 20?
AFree marketing advice
BInterest-free loan aid
CGeneral road network upgrade
DA government guarantee
Answer & Solution
Correct answer: C. General road network upgrade
General infrastructure available to an entire local community on an ongoing basis is excluded from government assistance.
Keep practising Ind AS 20 Government Grants and Ind AS 41 Agriculture
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Related questions
When valuing a below-market government loan benefit, what must the entity consider?Why do income approach supporters reject crediting grants directly to equity?Which view backs the income approach as per Ind AS 20?How many broad approaches to accounting for government grants does Ind AS 20 describe?Why is information on government assistance useful to financial statement users?Why does government typically give grants according to Ind AS 20?Which grape-related step is outside Ind AS 41?Which activity is listed as agricultural activity in Ind AS 41?