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Question: 14 A government grant related to assets should be: [1] Ignored until cash is received [2] Recognized immediately as income [3] Credited to equity directly [4] Presented as deferred income or deducted from asset

Question: 14 A government grant related to assets should be: [1] Ignored until cash is received [2] Recognized immediately as income [3] Credited to equity directly [4] Presented as deferred income or deducted from asset

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 1MC: A donated fixed asset (from a governmental unit) for which the fair value has been determined should...
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Question: 14 A government grant related to assets should be: [1] Ignored until cash is received [2] Recognized immediately as income [3] Credited to equity directly [4] Presented as deferred income or deducted from asset
Transcribed Image Text:Question: 14 A government grant related to assets should be: [1] Ignored until cash is received [2] Recognized immediately as income [3] Credited to equity directly [4] Presented as deferred income or deducted from asset
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