When a government grant is awarded for the purpose of giving immediate financial support to an enterprise
Question:
When a government grant is awarded for the purpose of giving immediate financial support to an enterprise
A. It should be transferred to capital reserve
B. It should be credited to Profit and Loss Account of the period in which the enterprise qualifies to receive it
C. One-half is to be recognised in the current period while the other half is to be recognised in the next period.
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Step by Step Answer:
B It should be credite...View the full answer
Answered By
Mehwish Aziz
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Related Book For 
Corporate Accounting As Per The Companies Act 2013 Including Rules 2014 And 2015
ISBN: 9789352605569
2nd Edition
Authors: M Hanif, A Mukherjee
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