Accounting · IAS 20 Government Grants
Under IAS 20, government grants, including non-monetary grants at fair value, shall NOT be recognized until there is reasonable assurance of which of the following?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The entity has received the cash in its bank account and has formally accepted the terms
- 2The entity has fulfilled the conditions and applied for the grant, regardless of approval
- 3The entity will comply with the conditions attaching to them and the grants will be received✓
- 4The government body has passed the budget allocation for the grant program
Correct answer
The entity will comply with the conditions attaching to them and the grants will be received
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