Which of the Following Is Correct with Respect to the Accounting

question 56

Multiple Choice

Which of the following is correct with respect to the accounting for re-payment of government grants?

• A)Accounted for prospectively under IFRS.
• B)Accounted for retrospectively under ASPE.
• C)Partial prospective treatment and partial retrospective treatment under ASPE.
• D)Partial prospective treatment and partial retrospective treatment under IFRS.

---

Definitions:

Utilitarianism

Utilitarianism is an ethical theory that proposes that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Deontological Theory

A moral philosophy that emphasizes the importance of adherence to a set of duties or rules, suggesting that the morality of an action is primarily determined by its adherence to these rules, rather than by its consequences.

Kantianism

Kantianism is a philosophical doctrine based on the works of Immanuel Kant, emphasizing the principles of universal morality, duty, and the importance of intention behind actions.

Rights Theory

A framework in ethics and philosophy that holds certain rights as fundamentally important to human beings, which must be respected and protected.