Accounting · Government Grants and Expenses
Zayn Co spent $500,000 sending key staff on a one-day training course that took place on 1 January 20X6. Zayn Co expects to benefit from this training for the next two years. The course was partly funded by a government scheme; Zayn Co received $50,000 before the training commenced, and the remaining $50,000 is due on 31 December 20X7 (receipt is virtually certain). What net amount should be charged as an expense to Zayn Co's statement of profit or loss for the year ended 31 December 20X6 under IFRS?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1$450,000
- 2$400,000✓
- 3$200,000
- 4$150,000
Correct answer
$400,000
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Government Grants and Expenses MCQs →Want more practice questions on Government Grants and Expenses?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Government Grants and Expenses