CAF-1 · Chapter 1 · Question 10 of 15
A government grant that becomes receivable as compensation for expenses or losses already incurred, with no future related costs, should be:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Recognized in profit or loss of the period in which it becomes receivable.
Explanation
Grants for immediate financial support or compensation for past expenses are recognized in profit or loss in the period they become receivable.
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