Which of the Following Statements in Relation to Government Grants

question 16

Multiple Choice

Which of the following statements in relation to government grants is correct?

• A) Government grants for biological assets measured at cost are accounted for under AASB 41 / IAS 41.
• B) Government grants for biological assets measured at fair value are accounted for under AASB 120 / IAS 20.
• C) Government grants for biological assets measured at fair value are accounted for under AASB 141/IAS 41.
• D) Government grants for biological assets measured at cost are accounted for under AASB 118 / IAS 18.

---

Definitions:

Umbilical Cord

The flexible cord-like structure connecting a fetus in the womb to its mother, supplying it with blood and nutrients.

Bulb Syringe

A small suction device used primarily for gentle nasal aspiration in infants to clear nasal passages.

Smothering

The act of causing difficulty in breathing by covering the face or obstructing the air supply, often leading to suffocation.

Developmental Needs

The essential conditions and factors required at different stages of life to achieve optimal growth, psychological development, and well-being.