Ind AS 20 requires government grants of the nature of promoters contribution :

CS Executive · Corporate and Management Accounting · PYQS · December 2020
Ind AS 20 requires government grants of the nature of promoters contribution :
(A) to be credited directly to capital reserve and treated as a part of shareholders funds
(B) to be recognized as income over the periods
(C) Not to be recognized
(D) Either (A) or (B)

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Financial Accounting

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