CAF-1 · Chapter 1 · Question 8 of 15
Which of the following is NOT required to be disclosed under IAS 20?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) The names of the specific government officials approving the grant.
Explanation
IAS 20 requires disclosure of accounting policies, the nature and extent of grants, and unfulfilled conditions, but not the names of approving officials.
More IAS 20 Government Assistance and Grants MCQs
- Q10A government grant that becomes receivable as compensation for expenses or losses already incurred, with no future related costs, should be:
- Q11According to IAS 20, government grants shall not be recognized until there is reasonable assurance that:
- Q12Which of the following bodies is considered 'Government' under IAS 20?
- Q13Beta Corp receives free marketing advice from a government export agency. How is this accounted for?
- Q14How should an entity present a government grant related to income in the statement of profit or loss?