Which of the Following Is Not True with Regard to the Accounting

question 4

Multiple Choice

Which of the following is not true with regard to the accounting for government grants?

• A) Assets may be recorded at fair value or nominal cost.
• B) Companies may use either the capital or income approach to account for the asset and the grant.
• C) Companies may apply the income approach either by recording the grant as deferred revenue or as an adjustment to the asset.
• D) None of these answer choices are correct.

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