question 20 choose the correct answer from the choices Transcribed Image Text: In the case of grants related to an asset, which of these accounting

question 20 choose the correct answer from the choices Transcribed Image Text: In the case of grants related to an asset, which of these accounting treatments (statement of
financial position presentation) is prescribed by PAS 20? * G
O Either set up the grant as deferred income or deduct it in arriving at the carrying amount of the asset.
O Record the grant at a nominal value in the first year and write it off in the subsequent year.
O Record the grant at fair value in the first year and take it to income in the subsequent year
O Take it to the income statement and disclose it as an extraordinary gain.

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