alleryStart learning →Which must be disclosed under Ind AS 20 about government grants?
AThe grantor's internal audit report
BThe names of officials who approved
CUnfulfilled conditions and contingencies
DThe entity's market share price
Answer & Solution
Correct answer: C. Unfulfilled conditions and contingencies
Disclosure covers the accounting policy, nature and extent of grants, and unfulfilled conditions attaching to recognised assistance.
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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?