CAF-1 · Chapter 1 · Question 14 of 15
How should an entity present a government grant related to income in the statement of profit or loss?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Either separately under a general heading like 'other income' or deducted from the related expense.
Explanation
Grants related to income can be presented either separately, under 'other income', or deducted in reporting the related expense.
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